Major stock gauges continued lower late this morning as the
Dow Jones Industrial Average
has fallen sharply, swooning down 127 to 7655.
was off 13 to 977, the
Nasdaq Composite Index
fell 18 to 1574 and the small-cap
has surrendered 5 to 347.
Thanks to the stock weakness, the 30-year Treasury bond has firmed today and was recently up 13/32 to 102 26/32, yielding 5.31%.
Breadth was negative on the
New York Stock Exchange
as decliners were beating advancers 2,086 to 766 on 344 million shares. On the
Nasdaq Stock Market
, decliners were beating advancers 2,435 to 1,151 on 319 million shares.
On the NYSE, 274 issues had hit new 52-week lows while zippo hit new highs. On the Nasdaq, 307 issues had hit new lows and 4 had hit new highs.
Among the technology indices today, the
Morgan Stanley High-Tech 35
was recently off 1.1%; the
Philadelphia Stock Exchange Semiconductor Index
was down 0.5%; and the
American Stock Exchange Inter@active Week Internet Index
had fallen 1.9%.
One of the bright spots today in the technology arena has been
, which was up 2 7/16 to 77 5/16 after
Morgan Stanley Dean Witter
raised earnings estimates on the company.
In the Newsletters
Computer Reseller News'
top story on its World Wide Web site today is
announcement yesterday that it lost $10.4 million in the first quarter, or 24 cents per share, lower than
seven-analyst estimate of a loss of 22 cents per share. Vanstar reported earnings after yesterday's stock-market close. Vanstar was down 5/16 to 7 15/16.
purchase of privately held
tops news on
Web site today. Financial terms of the deal weren't disclosed, the article says. Computer Associates was recently down 13/16 to 30 7/16.
Computer Retail Week's
"Spot Poll" on its Web site asks readers today: "Will the retail PC industry miss
? This week
completed its purchase of Computer City, a unit of
, at a price of about $211 million.