U.S. stocks had gone from bad to worse at midday. Blue-chips traded lower, while Internet issues
dropped sharply along with shares of
, lately down 27 to 100 1/4 (see below). The Net selloff gave the tech-heaped
Nasdaq Composite Index
yet another reason to spiral.
National Association of Securities Dealers
sent a letter to NASD members emphasizing the need to make day traders "understand what they are getting into."
European bourses closed lower, while Asian markets closed mixed, as Japan's
shed 89.83 to 13,902.66, while Hong Kong's
gained 104.89 to 9,244.49.
For more markets action and news, click
AMR's American Airlines
said it will sue its pilots union if it doesn't call off its "sickout" by
slimming down. The pharma giant announced the sale of pharmacy benefits unit
Diversified Pharmaceutical Services
for $700 million in cash, and the sale of its clinical labs unit to
for $1.27 billion.
Move over, Addison and Steele.
will jointly publish a magazine called
will be sold at the modern-day
-- Starbucks' North American coffeehouses.
For more news on companies and stocks, click
You knew Lycos wouldn't be lonely for long.
announced that it will buy the Web portal, combine it with its
Home Shopping Network
and name the new company
USA/Lycos Interactive Networks
said it has signed a 10-year, $1.5 billion telecommunications service deal with the
For more tech news and commentary, click
Swiss banking behemoth
says it can't find a buyer for 25 retail branches that Switzerland's competition commission required it to sell as part of last year's merger of
Union Bank of Switzerland
. Swiss regulators say they are looking into the matter.
Raising funds under the rising sun:
said that in 1999, Japan will account for more than 90% of net government bond issuance among the world's top 18 economies.
For more international news and commentary, click
figures show that U.S. workers' productivity increased a healthy 2.21% in 1998.
Fighting continues between Ethiopia and Eritrea over the unmarked border between those countries.
Weeks after Iran's intelligence ministry admitted its agents were involved in the killing of two dissidents, that nation's Minister of Intelligence
Atlanta Falcons receiver
appeared in a Miami court to face money-laundering and conspiracy charges associated with his relationship to "the mayor of Opa-Locka," drug dealer
Have a dumb question relating to finance? Great. Have a
dumb question? Even better. Send it to
and I will do our best to answer. Include your full name, and please, no questions seeking personal financial advice or regarding personal brokerage disputes. And this reminder: Because of the volume of mail, personal replies can't be guaranteed.