At 9 a.m. EST
futures were down a whopping 27.00, at their downside limit and about 30 points below fair value, indicating a significant drop at the open.
European bourses were sharply lower at midday.
Asian markets generally closed lower, with Hong Kong's
plummeting 437.79 to 10,273.77, while Japan's
eked out a 42.63 gain to close at 13,403.60.
Vice Finance Minister
emphasized Japan's desire for stable foreign exchange rates one day after the
Bank of Japan's
intervention to buoy the dollar's value against the yen.
Brazil's central bank said it will expand the range within which the real trades against the dollar. Separately, bank chief
announced his resignation today.
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property/casualty business for $3.45 billion in cash.
agreed to make its decisions to deny HMO members coverage subject to external review by outside experts.
Food and Drug Administration
advisory panel recommended approval of
, tiny corneal-ring implants made by
will close three stores and hand out 99 pink slips to pad slim profit margins.
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portal yesterday. See
coverage of the launch.
yesterday said it will take a 28% share in
, an online investment bank that will raise capital over the Internet.
yesterday reported 1998 fourth quarter earnings above expectations, while Yahoo! also announced a 2-for-1 stock split. Last night
reported on the news from
will buy networking supplier
discussed why the deal makes sense.
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Iraq today said that it will increase its daily oil production to 3 million barrels from 2.5 million barrels, and will further boost output to 3.5 million barrels within the next two years.
The Russian government cut its 1999 budget for foreign debt servicing to $4.6 billion from $9.5 billion.
Luxury goods manufacturer
LVMH Moet Hennessy Louis Vuitton
upped its holdings in
to more than 14.5% after buying out
9.5% stake in the fashion house.
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mailed an $850,000 settlement check to
Iraq has doubled its surface-to-air missile power in the no-fly zone, according to U.S. defense officials.
told North Korea that it would forfeit U.S., Japanese and South Korean aid for a nuclear power project if it hindered the inspection of a suspected nuclear weapons site.
Two more co-defendants in the racketeering trial of
John Gotti Jr.
have copped pleas, leaving six defendants of the original 23.