Selling Pressure
S&Ps traded to a new session at 1112 with continued pressure from the technology sector. The market saw increased selling presure when the S&P was below the critical 1115 area.
Nasdaq also traded to new session lows at 1349.50 on local selling.
As we said in the Morning Meeting, the market was led lower by Ericsson
(
ERICY |
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PowerRating) and WorldCom
(
WCOM |
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PowerRating).
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