Stocks Fall As War Fears Resurface

Stocks fell Wednesday on reports that the U.S. is tracking cargo ships that may be carrying Iraqi weapons of mass destruction and that Iranian troops had entered Iraq.

The Nasdaq fell 12 to 1334, the S&P 500 lost 6 to 845, and the Dow declined 40 to 8000. Volume declined to 1.08 billion shares on the NYSE, and 1.19 billion on the Nasdaq. Decliners led 19-12 on the NYSE, and 19-12 on the Nasdaq. Downside volume was 69% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 29-51 on the NYSE, and 44-66 on the Nasdaq.

After the close, Agile beat estimates, while Synopsis and ADC Telecom beat estimates but guided lower.

During the day, Overture plunged 21% on news that it will acquire Alta Vista, which is majority owned by CMGI . CMGI gained 14% on the news.

Intel rose 0.5% after saying it sees a second-half uptick.

RealNetworks gained 5.2% on a deal with Ericsson .

Qwest fell 7.3% after missing revenue estimates, while SunGard rose 7.6% after beating estimates. Photronics gained 3.9% after beating estimates.

Baby Bells Verizon , SBC and BellSouth fell ahead of Thursday’s FCC meeting on deregulation.

Microsoft , off 1.7%, made an acquisition in the server space.

Kana fell 0.8% despite a deal with British Telecom, and a Tablet PC deal was no help for Transmeta .

Meanwhile, a dot-com IPO lawsuit was cleared for trial.

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