Dow Jones Industrial Average
tumbled early on after
yesterday's historic close above 10,000, while the rest of the market's major averages also opened on the downside.
The Dow was down 132 to 9875. Dow component
, which yesterday said it expects worldwide sales to drop up to 2% in the first quarter, was down 3, or 5%, to 61 13/16. The beverage titan also said it doesn't expect to meet its 7% to 8% annual volume growth target in 1999.
Meanwhile in Washington, the
Federal Open Market Committee
is meeting. The FOMC is expected to stand pat on short-term interest rates.
was down 15 to 1296. The
Nasdaq Composite Index
was down 15 to 2478. The
was down 2 to 398.
TheStreet.com Internet Sector
index was down 4 to 650.
TheStreet.com E-Commerce Index
was down 2 to 111.
The 30-year Treasury bond was up 13/32 to 94 24/32, yielding 5.62%.
Most Up at Open -- NYSE
Most Up at Open -- Nasdaq
AboveNet (ABOV) , up 13 1/8 to 94
: The company set a 2-for-1 stock split.
Most Down at Open -- NYSE
EMC (EMC) , down 2 to 127 5/8
Most Down at Open -- Nasdaq
: The company restated third-quarter results to a net loss of 89 cents a share from a loss of $5.97 a share.
downgraded the stock to hold from accumulate.