Tech Not Immune to Meltdown

Dreyfuss, Joel
January 2008
Red Herring;1/22/2008, p9
Trade Publication
The article reports on market performance of the technology stocks in January 2008. Analysts attributed the 465 points decreased in Dow index to the decision of the U.S. Federal Reserve to cut its prime rate. Federal Reserve said that its reduction in lending rate to banks is associated with the weakening economic outlook. According to the author, the stock markets' decline comes as the U.S. startup sector celebrates its best performance since 2001. Nasdaq also reported a two percent drop in its value, while FTSE and France's CAC reported nearly one percent gain.


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