AardvarkBusiness.net - Business Search Engine AardvarkBusiness.net - Business Search Engine



 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister   ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

     

Nasdaq drops 2.5%

 
 
Post new topic   Reply to topic    AardvarkBusiness.net Forum Index -> Accountancy & Finance Forum
View previous topic :: View next topic  
Author Message
aaron
Retired Oil Baron
Retired Oil Baron


Joined: 14 Oct 2002
Posts: 3561
Location: Aardvarkland
4592 ants

PostPosted: Thu Feb 05, 2004 11:50 am    Post subject: Nasdaq drops 2.5% Reply with quote

Uncertainty among investors pushed stocks lower in volatile trading, with networker Cisco Systems' tentative spending outlook hitting technology shares hard.

Wall Street continued the week's sideways trading, with blue-chip shares showing greater strength than more speculative tech and small-cap stocks as cautious investors move to defensive positions.

As the earnings season winds down, some analysts say the market may be headed for a pause, but despite Wednesday's tech selling, investors don't seem ready to pull out in large numbers yet.

'Today, there's a lot of indecision. This market is as wimpy as I've seen in a long time,' said Brian Belski, market strategist at Piper Jaffray. 'But there's a lot of pent up of buying demand, lots of inflow into the market, so I tend to think it's too early to jump on the correction bandwagon.'

The Dow Jones Industrial Average finished down 34.44 points, or 0.3%, at 10,470.74. The broader gauges were also lower. The Nasdaq tumbled 52.07, or 2.5%, to 2014.14. The Standard & Poor's 500 index lost 9.51, or 0.8%, to 1126.52.

Aaron
_________________
Aardvark Map - custom maps for your site
Follow me on Twitter
Become an Aardvark fan on Facebook
Back to top
View user's profile Send private message Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    AardvarkBusiness.net Forum Index -> Accountancy & Finance Forum All times are GMT + 1 Hour
Page 1 of 1

 
Google
 
Business Forum Sport Forum Travel Forum


Powered by php B B © 2001, 2002 php B B Group

AardvarkBusiness.net Business Search Engine & Directory