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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.13

+1.1%

Nov 26 3:59 PM EST

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To: DaveMG who wrote (14854)	9/10/1998 10:54:00 PM
From: DaveMG	Read Replies (2) of 152472

More bad news: Thursday September 10, 10:10 pm Eastern Time Brazil raises interest rates to plug dollar outflows SAO PAULO, Sept 10 (Reuters) - Brazil on Thursday raisedinterest rates to nearly 50 percent in a bid to plug massive dollar outflows from its financial markets, the Central Bank said. The Central Bank hiked its basic assistance rate Tban to an annual 49.75 percent from 29.75 percent, a bank spokesperson told Reuters. The move came after Brazil's foreign exchange markets saw a huge drain of dollars, estimated at over $2 billion, on Thursday, after losing more than $8 billion in the first 10 days of September. Stock prices also plummeted on Thursday as panicked investors, worried about the massive capital flight, pulled out of the market. The Sao Paulo stock exchange's key Bovespa share index plunged nearly 16 percent, its biggest one-day drop since October 1987. --------------------------------------------------------------------------------

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