Related topics

Dow Falls 100 in Opening Minutes

July 29, 1999

NEW YORK (AP) _ The Dow Jones Industrial Average is down 100 points in today’s early going. Losers on the New York Stock Exchange hold a nearly 3-1 lead over gainers.

The Nasdaq Composite Index is down 44 points and the S&P 500 Index is down ten points.

Suddenly, interest rate fears are hitting home again on Wall Street.

The market is bracing for what would seem to be a greater likelihood of higher rates.

The change comes following the release of a government report that shows employment costs posted their biggest gain in eight years during the second quarter of the year.

The news sent bond market interest rates sharply higher.

Stocks in Europe have turned sharply lower.

Meantime, Wall Street also has some earnings news to digest.

Such big-name companies at AT&T, DaimlerChrysler, 3M and MCI-WorldCom have released results.

Update hourly