This is not a great way to start out the week.
Dow Jones Industrial Average
was down 163 to 7732. The
was down 24 to 996, while the
Nasdaq Composite Index
was down 41 to 1623 and the
was down 7 to 356.
Compliments of the global equity selloff, Treasuries rallied. The 30-year Treasury bond was recently up 1 12/32 to 106 23/32, yielding a record-low 5.06%.
Another worldwide equity selloff has spread to the U.S. In Japan, compromise legislation regarding the nation's banking trouble has apparently fallen apart and that sent the
skidding 385.82, or nearly 2.8%, to 13,597.30, a 12-year low. Stocks also fell in Europe.
videotaped grand jury testimony from August has been released and is being broadcast in its entirety on several TV networks.
In other news,
Ed Yardeni cut his S&P 500 1998 earnings estimate to $44 from $46.15.
Most Up at Open -- NYSE
Most Up at Open -- Nasdaq
Marquette Medical Systems (MARQ) , up 13 3/8 to 40 3/4
GE Medical Systems
, a unit of
, signed an agreement to buy Marquette Medical Systems.
Most Down at Open -- NYSE
Most Down at Open -- Nasdaq