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Technology Stocks : Intel Corporation (INTC)

INTC 35.53

-1.1%

Nov 14 9:30 AM EST

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To: Just_Observing who wrote (80493)	5/6/1999 3:13:00 PM
From: Stormweaver	Read Replies (1) of 186894

NEW YORK (Reuters) - U.S. stocks fell in afternoon trade Thursday after a speech by Federal Reserve Chairman Alan Greenspan made investors nervous about inflation. The Dow Jones Industrial Average was off 75 points at 10,879. The Nasdaq Composite Index, heavy with technology stocks, was off 45 points at 2489. Both indices fell as interest rates in the Treasury market jumped following a warning by Greenspan that the increasingly tight U.S. labor market risked fueling inflation. The benchmark 30-year bond was off 1-8/32 to yield 5.8 percent. Traders said the day's sell-off in stocks was a reaction to the rising yield in the bond market rather than a direct response to Greenspan's speech. As the market was opening, the Fed chief discussed the economy in a speech to a Chicago Fed conference on ''Global Financial Crises.''

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