INDEPENDENT NEWS

US Stocks Tumbling

Published: Thu 21 Dec 2000 11:22 AM
US stocks are sliding dramatically on fears of a harsh economic slowdown, continued weakness and disappointment that the Federal Reserve declined to lower interest rates yesterday.
Investors are seeing a confirmation from the Fed that the economy is very weak, earnings are going to be poor and the Fed is not going to help right away.
As at (US) 12.33pm EST the Dow had fallen by 134 and the Nasdaq lost 123.
However, as at (US) 3.37pm EST, the Dow had lost 235 and the Nasdaq 193.
Investors are dumping both high-tech shares and blue chips.

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