AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Techs Lead Sell-Off In Heavy Volume As Fed Riles Market; Leaders Take It On The Chin; FOMC minutes highlight inflation, turning bad day into a more serious dive.(A)(THE BIG PICTURE)
Byline: DAVID SAITO-CHUNG
Stocks suffered a second straight heavy-volume sell-off Tuesday, putting more pressure on the 4 1/2-month rally.
Last month, the Fed raised short-term rates a fifth time to 2.25%. But according to minutes of the Dec. 14 meeting revealed to the public Tuesday, officials worried that even after those increases, inflation might not be under control. Higher energy prices, while coming down in recent months, have fueled those concerns.
The Nasdaq, down 1.1% on Monday, dropped another 2.1% and closed nearly at its low for the session. Volume gushed 24% higher to 2.74 billion shares, the highest since June 6, 2003.
The S&P 500 fell 1.2% while the small-cap S&P 600 lost 1.7%. NYSE volume also rose sharply.
Volume began strongly, then eased in the hour before the Fed released the minutes at around 2 p.m. ET. As soon as excerpts hit the wires, stocks plunged further and volume reaccelerated.
Tuesday's action marked a third day of unequivocal distribution for both the Nasdaq and S&P 500 over the past four weeks. Count the milder days of distribution on Dec. 16-17, and you have evidence that institutional investors have been more inclined to take profits than new positions.
- Techs lead the advance for European bourses.
- News wire article from: Europe Intelligence Wire September 30, 2005 700+ words
(From FT Investor (Pulses)) European equity markets were higher on Friday as traders aimed to exit the third quarter on a high, with tech stocks at the head of the advance after the Nasdaq Composite leapt in the US. In early trade, the FTSE Eurofirst 300 was up 0.5 per cent to 1,230.23, while
- Techs lead slight recovery in Europe.
- News wire article from: The America's Intelligence Wire July 16, 2004 700+ words
(From CBS Marketwatch (Stories)) Byline: EMMA ROSS LONDON (CBS.MW) -- European techs on Friday helped recoup some of the previous session's losses on IBM and Samsung Electronics results, but handset maker Nokia extended losses after brokers panned its third quarter earnings outlook. The German DAX
- Techs lead broad rout: War scares investors.
- News wire article from: The America's Intelligence Wire December 19, 2002 700+ words
(From Financial Post) Byline: Tim Huber LONDON - Europe's leading shares ended at their weakest level in just over two months yesterday, as the drums of war picked up a beat and as poor earnings from U.S. group Micron slammed into technology stocks. German chip producer Infineon and Dutch chip gear
- Techs lead TSX stocks higher: U.S. blue chips fall.
- News wire article from: The America's Intelligence Wire July 10, 2003 700+ words
(From Financial Post) Toronto stocks closed higher yesterday, with strength across most sectors, especially technology.. The Standard & Poor's/TSX composite index rose 27.69 points, or 0.4%, to 7117.29. Advances led declines 641 to 427. Trading volume was 220.1 million shares, down from
- Techs lead Toronto to higher close.
- News wire article from: The America's Intelligence Wire July 7, 2003 700+ words
(From CBS Marketwatch (Stories)) Byline: Elaine Walker NEW YORK (CBS.MW) -- Led by technology strength, Canadian stocks closed broadly higher Monday with only the commodities groups posting losses. The S&P/TSX Composite Index closed up 66.55 points, or 1 percent, at 7,068.43, while the Nasdaq
- Techs lead Europe, Ahold faces Dutch criminal probe.
- News wire article from: The America's Intelligence Wire July 7, 2003 700+ words
(From CBS Marketwatch (Stories)) Byline: Christopher Calnan LONDON (CBS.MW) -- European markets started higher on Monday, paced by technology shares. The German DAX Xetra 30 index rose 1.5 percent to 3,288 and the French CAC 40 index increased 1.5 percent to 3,118. Early risers included memory chip
- Techs lead mostly upbeat Asian ADR trading.
- News wire article from: The America's Intelligence Wire March 7, 2005 700+ words
(From CBS Marketwatch (Stories)) SAN FRANCISCO (MarketWatch) - U.S.-listed shares of Asian tech companies rallied Monday with Sony Corp. and perennial volume leader Taiwan Semiconductor leading the charge. The Bank of New York Asian ADR Index ended the trading session up less than 1 percent at
- Techs lead Europe for second day, Viacom in German buy.
- News wire article from: The America's Intelligence Wire June 24, 2004 700+ words
(From CBS Marketwatch (Stories)) Byline: MATT KELLEY LONDON (CBS.MW) -- Techs boosted European stocks for the second day running on Thursday, again taking their cue from Wall Street, while media stocks were in focus after Viacom bought most of a German music channel and a Spanish broadcaster priced
- Techs lead stocks higher on strong earnings.
- News wire article from: The America's Intelligence Wire May 19, 2004 700+ words
(From AP Worldstream) Byline: MICHAEL J. MARTINEZ Strong earnings from technology bellwethers Hewlett-Packard Co. and Applied Materials Inc. kept Wall Street's rally alive Wednesday, giving investors hope that the market's recent slide might be over. While some analysts remained skeptical over
- Techs lead market to gains.
- News wire article from: The America's Intelligence Wire November 12, 2002 700+ words
(From CBS Marketwatch (Pulses)) Byline: Bob Rayner Tech stocks ended with sharp gains on Tuesday, with reassuring comments from the likes of Oracle and Motorola providing fodder to market bulls. But the Dow pared the lion's share of early gains as Philip Morris shares plunged following a profit