Post by Shadow on Jan 18, 2006 19:46:14 GMT -5
BBC
Wall Street shares ended sharply down on Wednesday after weaker-than-expected results overnight from Intel and Yahoo, and a plunge on Tokyo's Nikkei.
The Tokyo exchange had to close 20 minutes early as a rush of selling following allegations of fraud at a firm threatened a system meltdown.
Both this and the failure of Intel and Yahoo to meet profit expectations also hit the European exchanges.
The main Dow Jones index ended the day down 41 points to 10,855.
The wider Standard & Poor's 500 gave up 5 points to 1,278, while the technology-heavy Nasdaq lost 23 points to 2,280.
Fraud suggestions
The mass sell-off in Tokyo was caused by allegations of fraud at internet company Livedoor, and ended with the stock exchange having to close 20 minutes early.
Japan's benchmark Nikkei index has now fallen more than 6% in two days.
The poor fourth-quarter results from Yahoo and Intel have bolstered suggestions from some market watchers that the global exchanges are due for readjustment after the extended run of gains seen in the last quarter of 2005.
They say equity investors are beginning to reappraise the markets on the basis of more stable oil prices, slower economic growth in the US and Europe and lower corporate earnings.
Wall Street shares ended sharply down on Wednesday after weaker-than-expected results overnight from Intel and Yahoo, and a plunge on Tokyo's Nikkei.
The Tokyo exchange had to close 20 minutes early as a rush of selling following allegations of fraud at a firm threatened a system meltdown.
Both this and the failure of Intel and Yahoo to meet profit expectations also hit the European exchanges.
The main Dow Jones index ended the day down 41 points to 10,855.
The wider Standard & Poor's 500 gave up 5 points to 1,278, while the technology-heavy Nasdaq lost 23 points to 2,280.
Fraud suggestions
The mass sell-off in Tokyo was caused by allegations of fraud at internet company Livedoor, and ended with the stock exchange having to close 20 minutes early.
Japan's benchmark Nikkei index has now fallen more than 6% in two days.
The poor fourth-quarter results from Yahoo and Intel have bolstered suggestions from some market watchers that the global exchanges are due for readjustment after the extended run of gains seen in the last quarter of 2005.
They say equity investors are beginning to reappraise the markets on the basis of more stable oil prices, slower economic growth in the US and Europe and lower corporate earnings.