Stocks skidded lower as news of a potentially costly court ruling against the tobacco industry hit tobacco shares, blowing away a calm that Fed head Alan Greenspan had brought to the market this morning. The Dow was up more than 20 points before the tobacco ruling and closed down 78.22 points to 8971.70, a 0.86 percent loss. Disappointing news hit the tech sector (semiconductors and hard-disk-drive sectors were expected to post lower quarterly results), pushing the Nasdaq down 27.51 points to close at 1773.25, a 1.53 percent loss.
Market Wrap
Stocks skidded lower as news of a potentially costly court ruling against the tobacco industry hit tobacco shares, blowing away a calm that Fed head Alan Greenspan had brought to the market this morning. The Dow was up more than 20 points before the tobacco ruling and closed down 78.22 points to 8971.70, a 0.86 percent loss. Disappointing news hit the tech sector (semiconductors and hard-disk-drive sectors were expected to post lower quarterly results), pushing the Nasdaq down 27.51 points to close at 1773.25, a 1.53 percent loss.
