By Julian Goldsmith, 14 April 2000 17:13
NEWS The Dow and Nasdaq indexes went into free fall this afternoon, with the Nasdaq exchange losing 7.7 per cent of its value within the first two hours of trading. At the same time the Dow Jones index fell by 3.3 per cent. The falls were seen as a result of investors' fears over inflation and interest rate hikes in the US and has come at the end of a bleak week for the world's markets. Nasdaq in particular has suffered after confidence in technology stocks faltered; this despite year end reports for the IT industry giants, such as Cisco, Dell and Oracle, which have on the whole been good. Analysts have seen this as a sign that investors have learned to hold back from ecommerce start-ups with good initial public offerings but little in apparent revenues. More to follow
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