MARKET NEWS: U.S. stocks fell on Thursday after a speech by
Federal Reserve Chairman Alan Greenspan caused jitters about
inflation and spiking interest rates. The Dow Jones Industrial
Average closed off 8.59 points at 10,946.82, ending the session by
paring most of its 103 point drop from earlier in the day. The
technology-laden Nasdaq Composite Index fell 61.26 points, or
2.42%, to 2473.19, as the outlook for the high-flying group faced
pressure from rising interest rates. The S&P 500 Index, a broader
market gauge, fell 15.26 points, or 1.13%, to 1332.05. That
sell-off pushed interest rates in the bond market to levels not
seen since June, which in turn put pressure on the outlook for
stocks. The long-bond ended the day off 1-2/32 to yield 5.79%. See
infobeat.com
|
