Microsoft share fall drags down Nasdaq
Tuesday 25 March 1997
Apparently reacting to fears that the new Windows 95 would not be available until after the next Christmas shipping season, Microsoft saw its shares fall by more than 5 per cent in New York trading.
The deterioration in Microsoft's short-term prospects delivered another blow to the already fragile hi-tech sector. By midday yesterday, the technology-heavy Nasdaq exchange was down a significant 15 points.
Although the Nasdaq had been slipping through several trading sessions, Microsoft's troubles threatened a ripple effect with investors fearing negative consequencies for the wider computer sector. Among stocks that were also hit yesterday were Intel, Hewlett Packard, Dell and IBM.
At lunch Microsoft was down $41/2 to $891/2, leaving the company's stock at its lowest level since January. Microsoft was also the heaviest-traded stock on already nervous Nasdaq.
The decline in the Nasdaq added to wider unease on Wall Street as investors awaited today's meeting of the Federal Reserve's Open Market Committee. There is general anticipation that Fed chairman Alan Greenspan will finally nudge the committee to increase interest rates in the United States for the first time in 15 months. Even so, the expected tightening in monetary conditions had apparently been priced into most stocks in the Dow Jones industrial average which, after fairly strong early gains, was hovering around the unchanged mark.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Number of young homeless people in Britain is 'more than three times the official figures'
- 3 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 4 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...