|
US Stocks Close Lower Tuesday VOA News 19 Feb 2002 12:09 UTC 
U.S. stocks fell sharply Tuesday amid continuing concern over corporate accounting practices following the Enron scandal.
The Dow Jones Industrial Average dropped 159 points (1.6 percent) to 9,744, while the broad market indicator, the Standard & Poors 500, was down 21 points (nearly two percent) to 1,083. The technology-heavy Nasdaq Composite Index was 55 points lower (more than three percent) to 1,750.
Analysts say investors are concerned more companies besides the bankrupt-energy trader Enron may have used faulty accounting practices to overstate earnings.
In London, the Financial Times Index ended the day down 62 points (more than one percent) at 5,093, while in Paris, the CAC 40 Index was down 91 points (more than two percent) at 4,256. The DAX Index in Frankfurt was 108 points lower (two point two percent) to 4,764.
New York gold closed at $293.20 an ounce - down $5.20.
The dollar was lower against the other major currencies.
Some information for this report provided by AP and Bloomberg.
|