DOW March 4, 2008
12:12 PM 3/4/2008
http://www.latimes.com/news/nationworld/wire/ats-ap_top13mar04,0,5953756.story
The disappointing earnings forecasts and comments from Fed officials come as Wall Street tries to determine whether the economy is in recession -- and whether investors have been a bit too optimistic about companies' profits bouncing back in the second half of the year.
The Dow Jones industrial average fell 103.96, or 0.85 percent, to 12,154.94.
Broader stock indicators also dropped. The Standard & Poor's 500 index fell 9.96, or 0.75 percent, to 1,321.38, while the Nasdaq composite index fell 18.68, or 0.83 percent, to 2,239.92, reflecting concerns about the high-tech sector following Intel's news.
Citigroup, one of the 30 companies in the Dow, fell $1.15, or 4.9 percent, to $21.94 to new nine-year lows.
Intel, another Dow component, slipped 11 cents to $19.90.
Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 267.2 million shares.
The Russell 2000 index of smaller companies fell 6.82, or 1.00 percent, to 677.38.
Overseas, Japan's Nikkei stock average edged up less than 0.01 percent. In afternoon trading, Britain's FTSE 100 fell 1.22 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 declined 1.14 percent.
http://www.latimes.com/news/nationworld/wire/ats-ap_top13mar04,0,5953756.story
The disappointing earnings forecasts and comments from Fed officials come as Wall Street tries to determine whether the economy is in recession -- and whether investors have been a bit too optimistic about companies' profits bouncing back in the second half of the year.
The Dow Jones industrial average fell 103.96, or 0.85 percent, to 12,154.94.
Broader stock indicators also dropped. The Standard & Poor's 500 index fell 9.96, or 0.75 percent, to 1,321.38, while the Nasdaq composite index fell 18.68, or 0.83 percent, to 2,239.92, reflecting concerns about the high-tech sector following Intel's news.
Citigroup, one of the 30 companies in the Dow, fell $1.15, or 4.9 percent, to $21.94 to new nine-year lows.
Intel, another Dow component, slipped 11 cents to $19.90.
Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 267.2 million shares.
The Russell 2000 index of smaller companies fell 6.82, or 1.00 percent, to 677.38.
Overseas, Japan's Nikkei stock average edged up less than 0.01 percent. In afternoon trading, Britain's FTSE 100 fell 1.22 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 declined 1.14 percent.
2008-03-04 17:16:45 GMT
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