Cisco Slips 1.6% on CEO's Comments
Cisco Systems
(CSCO)
was down 1.6% in early trading.
In an interview with a Swedish newspaper Saturday, CEO
John Chambers
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said much of the U.S. economy is already in recession and the downturn threatens to spread.
Chambers said the
Fed
should continue to cut interests rates and he supported
President Bush's
proposed tax cut.
