Word: weeks
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Dates: during 2000-2000
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...that growing disquiet add the recurrence of warfare and terrorism in the Middle East last week. Result: a full-fledged panic on Wall Street. By the time the rout ended, the Dow Jones average had plunged 379 points on Thursday and the tech-heavy NASDAQ index stood at its lowest level of the year. Though both markets rebounded on Friday, that did little to dispel the underlying unease that the economy may be a Ford Explorer speeding along on Firestones...
...Chairman Alan Greenspan showed few such signs of concern last week. As Wall Streeters reached for airsick bags, he calmly flew to Boston for a long-scheduled session with fellow bankers. Greenspan believes U.S. economic fundamentals are solid. Fed vice chairman Roger Ferguson told TIME, "The economy is cooling from its unsustainable pace of earlier this year, but recent data certainly don't suggest a dangerous slowdown...
That's the risk foreseen by Michael J. Mandel, Business Week's economics editor, in a new book darkly titled The Coming Internet Depression. According to Mandel, any failure by the Fed to counter such a cash shortage by slashing interest rates could send the economy into a harrowing free fall. Though government safety nets would prevent a repeat of the Great Depression of the 1930s, he writes, "things could still get very ugly...
...countless dotbombs that have suddenly vaporized. Gazoontite.com an online and off-line dispenser of air purifiers, hypoallergenic stuffed toys and all things sneeze-and-wheeze related, has snuffled into Chapter 11 bankruptcy court. Scour, the troubled Web entertainment site backed by Hollywood superagent Michael Ovitz, filed last week to reorganize itself under Chapter...
...Remember, though, that bargain hunting around the March-May sell-off rewarded only a few while ravaging many. Electric utilities, oil and some financial and left-for-dead health-care stocks have done well. But that's not where the money was. Popular techland has been a disaster. Last week the NASDAQ yo-yo busted its string and fell to a new low for the year, extending a slump in the most speculative stocks and grounding the likes of Intel, Dell, Cisco and Lucent...