By Lisa Singhania
Associated Press
NEW YORK – Cautious investors sent stocks moderately lower Wednesday as more companies assessed the effects terrorist attacks would have on business.
The Dow Jones industrials were down 78.60 at 8,824.80 after fluctuating at the beginning of trading. The Nasdaq composite index was also down 17.39 at 1,537.69, while the Standard &Poor’s 500 index was off 3.67 at 1,029.07.
Wednesday’s early trading indicated that the market was settling down after intense selling Monday, the first day of trading since last week’s attacks. On Tuesday, the Dow fell just 17 points, compared with a record-breaking 684-point tumble on Monday.
Analysts predicted the market would be in a holding pattern for the next few days.
On Wednesday, investors appeared to be in a better mood. Home Depot rose 40 cents to $37.09, while Microsoft gained 29 cents to $54.61.
Investors bid Boeing up 16 cents to $33.30 after it said it planned as many as 30,000 job cuts due to an anticipated slowdown in air travel following the attacks.
The market is likely to be vulnerable throughout the coming weeks as Americans wait to see how President Bush will respond to the attacks.
Copyright ©2001 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.