Word: nasdaq
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...mails every day complaining of one scam or another. That's why the agency has bulked up its CyberForce to 250 investigators, who prowl tip sites, chat rooms and other back roads on the Web. Another crew of 50 electronically monitors Internet fraud on the tech-heavy NASDAQ as well as other over-the-counter markets...
...your eyes aren't failing you - there's bad news on Wall Street, and plenty of it. The Dow Jones industrial average took its fourth worst points plunge on Tuesday and dragged the heretofore unflappable NASDAQ index with it. The bad news began in the morning when Dow stalwart Procter and Gamble announced third-quarter earnings that will be 10 to 11 percent below last year's figures. The conglomerate's stock plummeted by nearly a third on the news, and the rest of the Dow quickly followed. "Psychologically, it's bad for the industrial stocks when...
...plunged 3.7 percent, or nearly 400 points. The downward spiral was aided by the Street's current climate of uncertainty, courtesy of Alan Greenspan's repeated indications that he'll raise interest rates until the stock market bubble deflates. "Greenspan is targeting the NASDAQ, which is totally inflated with all those tech stocks," says Kadlec. "But unfortunately, the Dow is really being caught in the crossfire." But not even the NASDAQ went unscathed today. After surpassing 5,000 for the first time ever in Tuesday morning's trading, the tech-heavy index skidded, to finish down...
...portals in China. With free e-mail, news, auctions and a job site, it claims to have upwards of 6 million page views a day. Netease.com and Sohu.com a portal run by Charles Zhang, are vying to be the first Chinese Internet companies to list on the NASDAQ. The payoff will be crazy, 10-digit money. But Ding still has to deal with the China Uncertainty Principle: bureaucrats in Beijing, whose treatment of the Internet is even more erratic than the movement of the markets...
...economic downturn caused by a stock market reversal. "If there's a correction," says Baumohl, "all of a sudden these consumers would abruptly stop spending, and that could send us into a recession." While the Dow Jones dropped slightly on news of Greenspan's report, the tech-heavy NASDAQ saw steady gains throughout the morning and early afternoon - a trend at the heart of a problem for the Fed chairman. "These days the high-tech companies seem immune to interest rate hikes," notes Baumohl. "It makes it more difficult for the Fed to rein in consumer spending, because consumers...