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...cyberwar revolution, however, poses serious problems for the U.S. Some are ethical: Is it a war crime to crash another country's stock market? More perilous are the security concerns for the U.S., where a tyrant with inexpensive technology could unplug NASDAQ or terrorist hackers could disrupt an airport tower. Giddy excitement over infowar may be shaken by an electronic Pearl Harbor. Last year the government's Joint Security Commission called U.S. vulnerability to infowar "the major security challenge of this decade and possibly the next century...
...such a seller's market that the sellers wouldn't sell, not just yet. Trading of 5 million shares in the long-awaited initial public offering of the upstart Netscape Communications Corp. was supposed to begin last Wednesday at 9:30 a.m., when the NASDAQ whistle blew. But here it was 90 minutes later, and the institutions and portfolio managers who had received huge blocks of shares still hadn't sold any of their stock. Investors were bidding up the price so fast that the ground floor had yet to be set. What the investment banks had valued...
...much to popularize the Internet as anything else in online history, with the possible exception of E-mail. Buyer says Netscape has "corporate vision, technology vision and proven operating vision. In terms of management, they've got everything you can ask for." They also have a company that when NASDAQ closed on Friday afternoon was valued at $2 billion...
...today (312.03 million last Friday). At its close, the NYSE composite index was up 0.12 at 299.91. The American Stock Exchange market value index slid 0.99 to 528.21. The Standard & Poor's 500 list was down 1.10 to 558.11. Buffeted by heavy selling of technology stocks, the Nasdaq composite index fell 11.58 to 1,019.70. Gold was down 30 cents to $384.25.Photographs: Simpson pool photo by Rick Meyer/REUTERS Crash from RTV/REUTERS Jerusalem by Jim Hollander/REUTERS Persian Gulf soldier by Hayne Palmour/AP Kevorkian by Steve Liss for TIME Dole by Scott Troyanos/AP Chain gang by Christopher Bell/Huntsville Times-AP Gates...
Investors backed away from multinational companies as the dollar unexpectedly rebounded. Investors refocused on stocks of smaller and mid-sized companies and high tech firms. Blue Chip stocks fell and technology and small cap stocks strengthened, pushing the Nasdaq index up 2.04 to a record high of 1,031.28. For the week, the index finished up 27.17, an increase of 2.7 percent. The Dow Jones industrial average fell 13.03 to 4, 617.60. In moderate trading, advances led declines, 1207 to 996 on a volume of 312 million shares. The S & P 500 closed at 559.21, up 0.17. In London, gold...