Captain Jack,
Everybody needs a little news. We are one month to closing the books on this quarter. No news news is good news in that respect. Let's hope we don't get bad news on top of the inflation jitters.
NW
U.S. TRADING SUMMARY: Stocks were sharply lower at midday on
Tuesday, as a new wave of inflation jitters sparked a broad-based
sell-off on Wall Street. The Internet bubble continued to deflate.
At 1:16 p.m. ET the Dow Jones industrial average was down 108
points, or 1 percent, at 10,451. The S&P 500 lost 16 to 1286. The
Nasdaq slid 38 to 2433 and the Russell 2000 was lower by 3 at 436.
On the big board, market breadth was negative 18 to 11 on volume
of 374 million shares. Investors have turned cautious since the
Federal Reserve shifted its bias to tightening on May 18. ''A good
old-fashioned correction -- that's our take on what's happening
with U.S., and, by extension, most global equities,'' said Jeffrey
Applegate of Lehman Brothers, in a research note on Tuesday. |
