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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (64263)	6/7/2002 2:32:13 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Stocks feel depressed again 06/07/2002 - Updated 12:23 AM ET usatoday.com NEW YORK (AP) — Wall Street's fortunes turned negative again Thursday as a downgrade of chip makers by Merrill Lynch and retailers' disappointing sales gave investors more reasons to doubt the strength of a business recovery. Stocks fell sharply, with the tech sector suffering the heaviest losses. It appeared likely the selling would continue Friday. After the end of regular trading, Intel fell sharply in after-hours trading after it reduced its second-quarter revenue outlook, blaming slumping demand for chips in Europe. After a respite Wednesday, the market resumed a more than week-long decline and gave back gains from the previous session's rally. Investors are selling on worries about earnings, mistrust of corporate accounting and international conflicts between India and Pakistan and Israel and Palestine. The Dow Jones industrial average closed down 172.16, or 1.8%, at 9,624.64. The Nasdaq composite index dropped 40.38, or 2.5%, to 1,554.88. The Standard & Poor's 500 index fell 20.75, or 2.0%, to 1,029.15.