Stockwatch Daily: Nasdaq hits two-year low

Nasdaq yesterday hit a two-year low as tech stocks continue to take a beating.

By Kate Hanaghan, 23 February 2001 09:45

NEWS News of weakening demand from data storage giant, EMC, and warnings from Sun Microsystems that revenue and profit for this quarter will fall well below expectations, hit the technology-laden index hard as it closed at 2,244.96 points. But on opening this morning, European indices didn't suffer considerably from a knock-on effect. A fairly flat opening across the board early on was followed by a slim downturn. Just before 09:00(GMT), the FTSE TechMark 100 was down 0.14 per cent, the Paris CAC 40 was down 0.03 per cent, while the Frankfurt DAX 30 was up slightly by 0.27per cent.

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