Stocks Drop On More Rate Fear
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Investors slam all the boards today as concerns of a possible Federal Reserve rate hike loom over the entire array of stocks, with technology and Internet stocks hit hardest. The tally: NASDAQ down 2.6% to 2453.66 and ISDEX off 7.3% to 510.55. The entire basket of 50 stocks here falls in what I think looks like an indiscriminate sector haircut.
See tomorrow's Morning Report for my analysis on what the market downturn means, what caused it, and an outlook for the second half of 1999.
It would seem a natural but I haven't seen any evidence of Network Solutions getting "it."
I suppose that's what happens when a company inherits a business from the government as NetSol did. Now it must learn to compete, something that it hasn't had to do.
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