Geopolitical fears strangle stocks as new Iraq developments arise; HP warning also pressures issues
Published:
27 February 2003 y., Thursday
U.S. stocks fell prey to fears of a possible war with Iraq once again and to some weak news from Hewlett-Packard Wednesday, ending the day lower.
The Nasdaq composite (down 25.30 to 1303.68, Charts) logged the widest losses at 1.9 percent, while the Dow Jones industrial average (down 102.52 to 7806.98, Charts) and the S&P 500 index (down 11.02 to 827.55, Charts) both shed about 1.3 percent. The markets managed small gains in a technical rally Tuesday, despite concerns related to Iraq.
On the Iraq front, another statement from U.N. Chief Weapons Inspector Hans Blix on the level of commitment from Baghdad, and news that Turkey was pulling its oil tank trucks out of Iraq, shook investors and led them to fear that war was creeping closer. Worries that the United States could be on the edge of an attack on Baghdad has slowly chipped away at the markets in recent months weeks.
Meanwhile, an earnings report from tech bellwether Hewlett-Packard indicating that sales for the current quarter would likely fall short of Wall Street estimates also plagued the market.
Šaltinis:
money.cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »