NYSE Sets Trading Curbs As Stocks Tumblegreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread |
http://dailynews.yahoo.com/h/nm/20000510/bs/stocks_leadall_2869.htmlWednesday May 10 1:58 PM ET
NYSE Sets Trading Curbs As Stocks Tumble NEW YORK (Reuters) - U.S. stocks tumbled in early afternoon trading on Wednesday as bearish comments from analysts coupled with disappointing news and earnings to fan the flames of a ongoing pullback.
The New York Stock Exchange turned on program trading curbs when the Dow Jones industrial average (^DJI - news) dropped 200 points.
By early afternoon, the blue-chip gauge lost 240 points, or 2.30 percent, to 10,299 as a steep slide in technology stocks spread to financial, drug and automotive names.
Technology leaders were beaten back, with Hewlett-Packard (NYSE:HWP - news) down 9 5/16 to 123 1/2, International Business Machines (NYSE:IBM - news) down 6 7/16 to 102 9/16, and Intel Corp. (NasdaqNM:INTC - news) down 8 3/8 to 108 9/16.
The slump dragged the Nasdaq composite (^IXIC - news) down 5.91 percent, or 211 points to 3,373 -- a level not seen in over two weeks. The gauge is down more than 33 percent from its March 10 all-time high of 5,048.62.
-- K (infosurf@yahoo.com), May 10, 2000