Nasdaq tanks as techs take a tumble
Article Abstract:
The Nasdaq composite plummeted by 199.66 points to close at 3164.55, which is its lowest level in 2000. Investor sell-offs were led by computer chip manufacturers due to fears that the companies' growth will not justify current prices. An industry association's report showing that sales of computer-chip gear compared with production in Apr 2000 were not as strong as in Mar 2000 triggered fears among investors. This lead to a decline in the Philadelphia Stock Exchange's chip index by around 8%.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Nasdaq's spills mean big chill for IPO market
Article Abstract:
The Nasdaq composite index has fallen by 111 points to close at 3361 on Oct 6, 2000. The decline has cast a pall over initial public offerings (IPOs) since investors are getting scared of new issues. Out of the 14 IPOs that will start trading in the week of Oct 9, only seven made it. One technology firm that made it, Asia Global Crossing, did not make a considerable jump from its initial offer of $7.00 despite being backed by Global Crossing and Microsoft. It only gained 38 cents to $7.38.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Nasdaq still gives jitters to Wall St
Article Abstract:
The Nasdaq 3000 has hit its lowest level since 1999. The Nasdaq is cming off its second-worst week of 2000 with a 12.2% slide that ended with a 171-point decline to 3029 on Nov 10, 2000. The statistics left the Nasdaq down 26% in 2000 and 40% below its high. The situation is giving investors something to worry about since there is even less motivation to step in and buy. Expectations as well are scaling back. Analysts are calling for firms in the Standard and Poor's 500 to post approximately 10% earnings growth in the 4th qtr.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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