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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (7177)	10/10/2000 11:09:40 PM
From: Dealer	Read Replies (3) of 65232

Nikkei falls 2%, Nasdaq drop sparks broad decline TOKYO, Oct 11 (Reuters) - Tokyo's Nikkei stock average fell two percent on Wednesday morning after the Nasdaq composite index (^IXIC - news) tumbled 3.43 percent and U.S. telecoms equipment maker Lucent Technologies Inc (NYSE:LU - news) cut its growth outlook after the bell. Broad-based selling dragged the Nikkei down 315.97 points or 2.0 percent to 15,511.75 by 0135 GMT. That was its lowest level since July 31. The broader TOPIX index (^TOPX - news) fell 26.69 points or 1.80 percent to 1,455.88. ``Some of the selling in Japan might look a bit overdone with even the more defensive issues being sold, but nobody's in the mood to buy since the Nasdaq looks like it's headed even lower and U.S. investors are pulling their money out of Japan,'' said Katsuhiko Kodama, head of equities at Toyo Securities.

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