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Dow Drops 114 in Early Trading

September 21, 1999

NEW YORK (AP) _ The Dow Jones industrial average is down 114 points in today’s early going. Losers on the New York Stock Exchange hold a 2-1 lead over gainers.

The Nasdaq Composite Index is down 34 points and the S&P 500 Index is down 15 points.

Stocks are lower after the dollar hit the skids against the yen in the overseas currency markets. It was hurt by the Bank of Japan’s refusal to ease its monetary policy.

Bonds moved lower in early trading, with the 30-year bond falling almost a half point. Its yield climbed to 6.10 percent.

Also playing a role is another record in the U.S. trade deficit.

The red ink flowed to the tune of a record $25.2 billion in July.

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