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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (46889)	6/25/1998 1:47:00 PM
From: broken_cookie	Respond to of 58727

The scorching rally in technology stocks came to an abrupt halt in early afternoon trading on Thursday to push the Nasdaq in negative terrain and pull the Dow off its highs. The easing came amid a sudden one-yen slide in the dollar, and worries over Intel Corp.'s (INTC - news) new Xeon processor. Weakness in Microsoft Corp. (MSFT - news) also weighed on the tech-heavy Nasdaq. At 1311 EDT/1711 GMT, the Dow was up 43 points at 8967, off the day's high of 9025. The Nasdaq fell four points to 1873 after hitting a high of 1901. The dollar slid one yen to 141.50 yen amid rumors that the Federal Reserve was checking currency rates, sparking speculation of another intervention to march last week's which propped up the ailing yen. The long bond briefly fell 10/32 amid the dollar slide before recouping lost ground. It was up 1/32 to yield 5.66 percent. The flaw in the Xeon's chipset was all over SI two days ago.