graphic
Markets & Stocks
Inflation jitters on Wall St.
June 1, 1999: 4:19 p.m. ET

Investors flee financial and technology stocks, but load up on cyclicals
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Investors rushed into cyclical stocks, which thrive in a strong economy, and dumped interest-rate sensitive technology and financial stocks after the latest manufacturing report showed strong growth and was interpreted to contain signs of rising inflation.
     According to preliminary data, the Dow Jones industrial average closed 36.52 points higher at 10,596.26. Market breadth on the New York Stock Exchange was negative with declines outpacing advances 1,548 to 1,411 on trading volume of 686 million shares.
     The Nasdaq Composite dropped 57.93, or 2.3 percent, to 2,412.59 and the S&P 500 index lost 7.51 to 1,294.33.
     The bond market tumbled, hit by fears that the Federal Reserve could raise interest rates as early as next month. The bellwether 30-year Treasury bond lost 1-9/32 points in price, bringing the yield up to 5.93 percent -- its highest in more than a year.
     The dollar fell against both the yen and the euro. Back to top

  RELATED STORIES

London defies the drop - June 1, 1999

Tokyo sprints 296 points - June 1, 1999
  RELATED SITES

View the latest market update via Netshow

See how your mutual funds are doing

Learn online trading in Final Bell

Need investing advice? Try Quicken.com on fn

Track your stocks

Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council