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Pastimes : All Clowns Must Be Destroyed
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To: MythMan who wrote (32487)5/11/2000 10:08:00 AM
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``Technology stocks are under pressure because they still have extremely high valuations,'' said William Meehan, chief market analyst for Cantor Fitzgerald. ``Six months ago, people said it didn't matter what they cost; you had to own them anyway. Now there's a sense that what you pay for a stock really does matter.''

Meehan said investors were shying away from expensive technology stocks because they fear rising interest rates will compromise their rapid growth rates. The Fed is expected to raise rates by as much as a half-percentage point at its meeting next Tuesday.
dailynews.yahoo.com
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