Word: nasdaq
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Another bad week for the markets seemed ready to end with another glum day Friday, with the NASDAQ testing year-old lows again and the Dow giving up 200 points under the weight of tearful earnings reports from Motorola and Sun. The S&P even ushered in an official bear market, hitting 20 percent losses off its highs, but as TIME columnist Dan Kadlec points, we knew that already...
...Things maybe have to get a little worse first. I think there's no question Greenspan watches the markets, and NASDAQ in particular. He says he doesn't, but he talks about the wealth effect - and the negative wealth effect - way too much not to be interested...
...early 2000 are the ones who have been keeping the economy going this long, and the crash last spring and summer, I think, presaged the sharpness of the slowdown we're seeing now. So Greenspan has to believe that any recovery has to include some rebound in the NASDAQ if it's going to stick...
...Pretty much all stocks are interest-rate-sensitive, and anything that pushes aggressive rate-cutting farther down the road is going to be bad news. The Dow is taking it harder because it's been doing reasonably well lately - the NASDAQ stayed pretty level because it's already sitting on a 52-week low, and there isn't much downside left...
...merger with Time Warner (TIME's parent). Though global in outlook, Bertelsmann has relatively few broadcast and Internet assets in North America, so the German giant could soon be trolling for bargains among companies that have been bloodied by the precipitous fall of the U.S. high-tech stock market nasdaq. The RTL deal also provided outsiders an intriguing glimpse into Bertelsmann's finances. Company officials say the in-house price attributed to the RTL share swap was $9 billion, roughly a 100% premium over the actual stock market valuation of RTL's shares. Using that figure, it means that Bertelsmann...