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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: Mike E. who wrote (16740)	10/11/2000 7:09:27 AM
From: rocket_no9	Respond to of 24256

(REUTERS) Techs sink Eurostocks as US futures spell more gloom 10-4 the stealth rally Mike, trying to stay alert to that possibility as well. We're way oversold short term here. Mike LONDON, Oct 11 (Reuters) - An avalanche in European technology stocks picked up speed on Wednesday, sending markets across the region lower as a sharp fall in U.S. stock futures signalled more pain on Wall Street after Nasdaq's overnight slide. At 1044 GMT the DJ Stoxx technology index was down 5.9 percent at levels last seen in January, while top decliners reflected indiscriminate selling of telecoms equipment firms, software companies, Internet portals and chipmakers. Markets were left reeling by a one-two punch from the U.S. overnight -- yet more analyst downgrades on semiconductor companies and disappointing results from Yahoo <YHOO.O> and Motorola <MOT.N>, while Lucent <LU.N> cut its profit forecast growth again. The gloom looked set to continue, as Nasdaq futures tumbled 45 points and S&P futures shed 2.6 points. At the same time, the FTSE Eurotop 300 <.FTEU3> fell 1.8 percent and the narrower Euro Stoxx 50 <.STOXX50E> gave up 2.07 percent as France's Alcatel <CGEP.PA> and Britain's Marconi <MNI.L> led blue-chip decliners. MORE * end of story *