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 Malaysia issues arrest warrant for Gordon Brown’s sister-in-law after she publishes stories on leader Najib Razak's financial affairs
- 2 Porn block in India: hundreds of sexual websites banned, internet outraged
- 3 Natalia Molchanova: World's most successful free-driver is missing and feared dead after disappearing in Mediterranean
- 4 Dutch King Willem-Alexander declares the end of the welfare state
- 5 Gamers confess the worst things they've done in The Sims
Jackie Chan in second place in Forbes' Highest Paid Actors list after magazine includes actors working outside US movie industry
Malaysia issues arrest warrant for Gordon Brown’s sister-in-law after she publishes stories on leader Najib Razak's financial affairs
Natalia Molchanova: World's most successful free-driver is missing and feared dead after disappearing in Mediterranean
Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
Dutch King Willem-Alexander declares the end of the welfare state
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
iJobs Money & Business
£35 - £50k DOE: Guru Careers: A Tax Manager / Accountant (ACA / CA / CTA) is n...
£35000 - £37000 per annum + benefits: Ashdown Group: Contracts Executive - Cit...
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...