Earnings Jitters Send Markets Down

Wed., Sept. 27, 2000

From Staff

Stocks fell sharply Tuesday after an earnings warnings from Eastman Kodak triggered yet another round of selling by investors already nervous about third-quarter results.

The decline, the latest of many this month, quickly spread to blue chip and technology stocks, reflecting persistent concerns that higher oil prices, the strong U.S.

dollar and slowing economic growth are hurting the bottom lines of many companies.

The Dow Jones industrial average fell 176.83 to 10,631.32.

Broader indicators were also lower. The Nasdaq composite was down 52.12 at 3,689.10 and the Standard and Poor’s 500 stock index slipped 11.82 to 1,427.21.

Dow component Kodak warned of disappointing profits, primarily because of rising material costs and weakness in the euro.

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Earnings Jitters Send Markets Down

Jesse Tinsley

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