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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (16689)	1/21/1999 5:06:00 PM
From: MythMan	Read Replies (2) \| Respond to of 86076

Thursday January 21, 4:45 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) U.S. stocks fall broadly on Brazil, Internet woes By Jennifer Shaw NEW YORK, Jan 21 (Reuters) - Wall Street stocks fell Thursday as fears over the global economy reined in the U.S. bull market. The Dow Jones industrial average closed unofficially down 71.83 points, or 0.77 percent to 9264.08 and the Nasdaq composite index fell 70.60 points, or 2.92 percent, to 2344.89 as global economic fear sparked by Brazil's continued woes and the potential end of the Internet sector's frenzied run sent blue chip and over-the-counter stocks tumbling in tandem. ''There's just a lot of concern about economies this close to our border falling into a round of devaluations,'' said Bill Meehan, chief market analyst at Cantor Fitzgerald. ''It's coupled with the fact that given the domestic economy, if we have another problem in terms of the global economy the Fed is not going to necessarily cut interest rates again.'' Investors ran for cover even as fourth-quarter earnings came in better than expected to bolster select technology issues. After the market closed International Business Machines Corp (NYSE:IBM - news) became the latest large cap company to beat estimates.