Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Nov 14 9:30 AM EST

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To: Jeffrey D who wrote (2617)	8/23/2002 3:27:15 PM
From: Proud_Infidel	Read Replies (2) of 25522

NYSE margin debt falls to level unseen since Oct 1998 NEW YORK, Aug 23 (Reuters) - Borrowings by investors from New York Stock Exchange member firms to buy stocks, or margin debt, fell in July for the third straight month to the lowest level since October 1998, according to the Big Board. Margin debt fell 7 percent in July to $136.2 billion from the $146.27 billion in June, said the NYSE. July was a dismal month for U.S. stocks, with the Standard & Poor's 500 (CBOE:^SPX - News) shedding 7.9 percent and the Nasdaq Composite Index (NasdaqSC:^IXIC - News) falling 9.2 percent. Margin debt has decreased by more than half from its record level - $278.5 billion - of March 2000, when technology and Internet stocks peaked. Trading on margin is a practice that allows a buyer to put down a percentage of the purchase price and use the stock being bought as collateral. When a stock falls far enough, a margin investor must either deposit more cash into his account or liquidate the stock. Equity market investors with margin accounts can typically borrow up to 50 percent of their positions to finance the purchase of stocks or for other expenditures.

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