Markets

You don't need no stinkin' 10K rally to celebrate tonight. The beer's green and the shakes have been shamrocked. Happy St. Patrick's Day.

Stocks, however, are still feeling bloated from yesterday's fun. The

Dow Jones Industrial Average

dumped 51.06 to 9879.41; the

S&P 500

lost 8.81 to 8.56; the

Nasdaq Composite Index

fell 10.28 to 2428.99; the small-cap

Russell 2000

dropped 0.75 to 398.42; but

TheStreet.com Internet Sector

index managed to pick up 4.28 to close at 608.93.

European bourses closed lower, while Asian markets continued to surge. Japan's

Nikkei

soared a further 195.29 to close at a 7 1/2-month high of 16,268.11, and Hong Kong's

Hang Seng

kept inching toward its next millennial mark, gaining 28.82 to 10,940.07.

Inktomi

(INKT)

will enter

TheStreet.com Internet Sector

index after the close of trading today, the

Philadelphia Stock Exchange

said. Inktomi is replacing

Netscape

(NSCP)

, whose acquisition by

America Online

(AOL)

is expected to be completed today.

In other index-reconfiguration news,

Beyond.com

(BYND) - Get Report

will enter

TheStreet.com E-Commerce Index

after today's close, the

American Stock Exchange

said. Beyond.com is replacing

N2K

(NTKI)

, whose merger with fellow E-Commerce Index component

CDnow

(CDNW)

is expected to be completed today. The merged CDnow/N2K will remain in the index under its new symbol, CDNWD.

Answers to frequently asked questions on the

TSC

indices are available

here.

For more markets action and news, click

here.

Companies

Bermuda-based fiber optic provider

Global Crossing

(GBLX)

agreed to buy local and long distance carrier

Frontier

(FRO) - Get Report

for about $11.2 billion in stock.

TheStreet.com

columnist

Herb Greenberg

had

the story yesterday.

Auto parts manufacturer

Lear

(LEA) - Get Report

will be expanding its product line. The company agreed to buy the automotive unit of

United Technologies

(UTX) - Get Report

for $2.3 billion.

Jewelry retailer

Zale

(ZLC)

is buying privately held Canadian jewelry store

Peoples Jewellers

for about $75 million in cash.

For more news on companies and stocks, click

here.

Tech

Cable company

Charter Communications

said that

Microsoft

(MSFT) - Get Report

co-founder

Paul Allen

may sell $2 billion to $3 billion of stock in an IPO. The company is a subsidiary of Allen's umbrella firm

Vulcan Northwest

.

Eastman Kodak

(EK)

today announced plans to sell key parts of its office-imaging business to German printing company

Heidelberger Druckmaschinen

. Kodak will sell its digital printer, copier and roller assembly operations.

General Motors

(GM) - Get Report

subsidiary

Hughes Electronics

(GMH)

will invest $1.4 billion in its broadband

Spaceway

satellite system.

Sun Microsystems

(SUNW) - Get Report

has signed a memorandum with consortium

Symbian

-- a joint venture of

Motorola

(MOT)

,

Ericsson

(ERICY)

,

Nokia

(NOKA)

and

Psion

-- to use

Java

in the

Epoc

operating system, which Symbian is promoting as a platform for advanced mobile communications technology.

For more tech news and commentary, click

here.

General News

The

Senate

today approved by a vote of 97 to 3 a bill that would commit the military to deploy a ballistic missile-defense system as soon as it is "technologically possible."

The

House of Lords

said today that it will decide next Wednesday whether former Chilean dictator Gen.

Augusto Pinochet

will be granted immunity and returned to Chile.

A Finnish forensic team found that 40 of the Kosovo Albanians killed by Serb forces in January were civilians executed en masse, according to

The Washington Post

.

International

The British government today released figures showing that country's unemployment rate at 4.6% for the seventh month in a row.

Renault

may pay about $5.3 billion for a 35% stake in debt-ridden Japanese automaker

Nissan Motor

(NSANY)

according to French officials. The French government owns a little over 40% of Renault.

For more international news and commentary, click

here.

Elsewhere

The balloon navigated by a Swiss-English team today finished its six-day trip across the Pacific Ocean. The team needs to reach North Africa to complete the first-ever nonstop circumnavigation of the globe by a balloon.

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really

dumb question? Even better. Send it to

MonEmailbag@thestreet.com, and I'll do my 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.

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here to read the latest MonEmailbag.