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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Fowler who wrote (116233)	1/26/2001 9:57:48 AM
From: H James Morris	Respond to of 164684

Mark, I want to back to what I said to you the other day. If we don't get the 50 basis points...I'm moving to Thailand. >NEW YORK, Jan 26 (Reuters) - Stocks stumbled at the opening on Friday after global technology heavyweights tempered their growth forecasts and stoked fears that an economic slowdown will knock the wind out of corporate profits. The technology-laced Nasdaq Composite Index fell 49.93 points, or 1.81 percent, to 2,704.35, after suffering a 3.67 percent drop on Thursday on a cautious outlook from fiber-optic company Corning Inc. (NYSE:GLW). The blue-chip Dow Jones industrial average slipped 11.80 points, or 0.11 percent, to 10,717.72, after hitting its highest close since Jan. 4 on Thursday. The broader Standard & Poor's 500 Index shed 5.07 points, or 0.37 percent, to 1,352.44. U.S. communications chipmaker PMC-Sierra Inc. (NASDAQ:PMCS), Canadian fiber-optic parts maker JDS Uniphase Corp. (T.TSE:JDU) (NASDAQ:JDSU) and Swedish telecom equipment group Ericsson (NASDAQ:ERICY) (LMEb) cut growth outlooks just one day after Federal Reserve Chairman Alan Greenspan said the economy may have ground to a halt. The bad corporate news was overshadowing optimism ahead of a Fed meeting next week that is likely to result in lower interest rates. A Reuters poll of top U.S. bond firms said 24 of 25 expected the Fed to slash rates by a half-point at a rate-setting meeting on Jan. 30-31.