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Technology Stocks : Ascend Communications (ASND)

ASND 199.96

-0.6%

Nov 12 3:59 PM EST

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To: Tim Luke who wrote (31644)	1/22/1998 10:57:00 AM
From: Jeff Jordan	Read Replies (3) of 61433

As of: Jan 22, 1998 10:52 AM All stock quotes are 20 minute delayed . DJIA7743.34 down -51.06 NYSE503.52 down -4.38 NASDAQ1573.29 down-14.63 Russell 2000 426.79 down-3.10 S&P 500 960.52 down-10.26 Amex MMI 823.62 down-7.89 Its not clinton its the Asian markets! U.S. stocks fall in London By Reuters January 22, 1998, 7:25 a.m. PT London--U.S. stocks in London slid today following a warning from software giant Microsoft (MSFT) that the current financial turmoil in Asia would impact its earnings in 1998, dealers said. Dealers said the comments from Microsoft added to the nervous condition of the U.S. equity market, which had already been shaken by a similar warning from IBM (IBM) on Tuesday. By 11:30 GMT, shares in Microsoft were quoted around $1-1/2 down in London. IBM had traded $1/16 lower at $100. Microsoft reported fourth quarter earnings after the U.S. markets shut yesterday and the domestic market had yet to react to the company's comments. The Dow was seen dropping around 50 to 60 points today, as weak markets in Asia and Europe weighed on sentiment. The March S&P future was trading about eight points below its estimated fair value of 975.6. Hong Kong slumped nearly 4 percent after a crumbling Indonesian rupiah and shaken confidence in the local economy hit shares. The Nikkei 225 index slipped 1.7 percent in Tokyo. Dealers said the market would be concentrating on another raft of fourth quarter earnings due today and will pay particular attention to technology and bank stocks. "Technology and bank stocks are considered to be the most sensitive to the Asia turbulence," one dealer explained. Bankers Trust New York and pharmaceutical company Bristol-Myers Squibb are among the major companies expected to report earnings results later today.

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