Word: nasdaq
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...only six days of trading, 1998 already has the look of a nightmare. The Dow and Nasdaq each posted 20 percent gains last year; today's selloff left them both down close to 5 percent. Broader measures are right in step. The question for investors is this: When will the hot potatoes turn into bargains...
Just in from the Fed: There will be no change in short-term interest rates. Which was exactly what Wall Street was expecting; trading on both the Dow and NASDAQ was robust all day, and was expected to continue unflinching in the wake of the announcement. Faced with weighing the high-octane U.S. economy against the tenuous financial markets overseas, the Fed has not changed rates since late March; they will remain at 5.5 percent. In Money Daily...
Techs on the Rocks After yesterday's bad omen from Oracle, NASDAQ was reeling again as tech stocks took another...
...corporate earnings reports. The first victim? Oracle. Citing the Asian market slump and poor telecoms sales, the software maker reported sharply disappointing second quarter earnings Tuesday ? and promptly lost a third of its value in frenzied trading. Play on Oracle accounted for a quarter of the total volume of NASDAQ action ? and the rest was a tech sell-off, erasing all of the index's Monday gains...
...Money Daily takes a look at one measure in particular: the NASDAQ, battered by turmoil in the semiconductor industry. A tech slump may be here to stay...