The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Mephisto who wrote (4553)	10/6/2002 1:35:39 AM
From: Mephisto	of 5185

Stocks Slammed to 6th Straight Down Week Fri Oct 4, 5:03 PM ET By Denise Duclaux The following is an excerpt: NEW YORK (Reuters) - "Stocks skidded on Friday, knocking the market to its sixth straight week of losses, on a hail of dismal outlooks from companies like data storage giant EMC Corp. and a record $28 billion judgement against cigarette leader Philip Morris Cos. Inc. "People are scared to buy stocks," said Anthony Iuliano, head equity trader for Glenmede Trust Co., as the Dow Jones industrial average <.DJI> hit its lowest close in nearly five years. EMC tanked 23 percent after saying it no longer sees returning to profits for the second half of the year in a "brutal" environment for information-technology spending. Boeing Co. , the world's largest commercial jet maker and a Dow average member, fell almost 7 percent after warning of weak earnings amid a slump in the air travel industry. A mixed reading on the job market in September, continuing fears of a war on Iraq and a whopping judgement in a tobacco lawsuit added to market jitters." dailynews.yahoo.com

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