| SLUG: 2-280801 Stocks Open Down (L only)
DATE: NOTE NUMBER: |
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DATE=09/20/01 TYPE=CORRESPONDENT REPORT TITLE=STOCKS OPEN DOWN (L ONLY) NUMBER=2-280801 BYLINE=BRECK ARDERY DATELINE=UNITED NATIONS CONTENT= VOICED AT: INTRO: The battered U-S stock market opened down sharply today (Thursday) as traders continued to face the uncertainties created by last week's terrorist attack. V-O-A Correspondent Breck Ardery reports from New York. TEXT: Stocks plunged right from the start of trading with the Dow Jones Industrial Average losing about two percent in the first half-hour. Technology stocks led the steep decline but the drop was widespread as fears that massive layoffs in the airline and aircraft industries could trigger an economy-wide recession in the United States. Market analyst Mary Farrell says uncertainty always triggers stock market selling. /// FARRELL ACT /// The problem is that the market triggers off corporate earnings which trigger off the health of the U-S economy and we truly do not know. This is unprecedented in scope and magnitude we just do not know what is going to happen in the near future. /// END ACT /// Some analysts, although a decided minority, say now is a great buying opportunity because the stocks of so many high quality U-S corporations have fallen so far. But they caution that buyers now should have a very long-term time horizon and not expect a substantial recovery any time soon. (Signed) NEB/UN/BA/JWH |
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