The Dow and Nasdaq indexes sank before the mid-afternoon announcement that Greenspan and his Fed interest squad would hold interests rates steady. After the announcement, they sank even more. Earlier, European markets closed lower: London's FTSE 100 down 1.5 percent, after news of sharply lower indexes on Asian exchanges, and Frankfurt's DAX down 1.9 percent. Tokyo's Nikkei index lost 2.7 percent and Hong Kong's Hang Seng was off 3.9 percent.
Fed Holds Steady
The Dow and Nasdaq indexes sank before the mid-afternoon announcement that Greenspan and his Fed interest squad would hold interests rates steady. After the announcement, they sank even more. Earlier, European markets closed lower: London's FTSE 100 down 1.5 percent, after news of sharply lower indexes on Asian exchanges, and Frankfurt's DAX down 1.9 percent. Tokyo's Nikkei index lost 2.7 percent and Hong Kong's Hang Seng was off 3.9 percent.
