英文: Wall Street shares - Close lower on dollar weakness, terror warnings
Share prices closed near their lowest levels of the day as investors2 behaved nervously3 in the face of a plummeting4 dollar and a new round of FBI warnings about possible terrorist attacks, dealers6 said.
The DJIA, with NYSE trading curbs7 in place, closed down 177.98 points at 9,253.79, a new closing low for the year to date.
The S&P 500 ended down 17.16 at 989.13 and the Nasdaq composite down 23. 82 at1,440.93.
Dealers said the major indices opened lower and spent most of the session in negative territory as today's options expirations lent a note of unpredictability to trading.
The selling remained orderly until around midday when the FBI warning reached the market, setting off feelings of panic.
Dealers said there were warnings about a possible new terror attack in Las Vegas over the upcoming US Independence Day holiday as well as possible plots to use fuel tankers8 to target Jewish institutions across the US and overseas.
One dealer5 noted9 that the threats were not seen as especially credible10, but they undermined sentiment nonetheless because investors have been exceptionally fragile and are having trouble sifting11 through rumors12.
In addition to the warnings, investors today also worried about the escalation13 of violence in the Middle East, weak corporate14 profits, and the growing crisis of confidence in corporate America.
"No one wanted to hold long positions going into the weekend," said one trader."
Dell closed up 5 cents at 23.98 usd after receiving a new upgrade from Salomon Smith Barney to "buy" from "neutral," noting the stock's valuation.
Qualcomm ended up 21 cents at 26.12 usd after the company said it now expects its third quarter EPS to meet or exceed the high end of its previously15 announced range of 21-23 cents, ahead of the First Call/Thomson Financial consensus16 of 22 cents.
IBM finished down 2.83 usd at 68.75 usd after Lehman Brothers reduced its estimates for the company's full-year earnings17 per share result.
Merck finished down 2.22 usd at 49.98 after a Wall Street Journal report raised questions about accounting18 methods used at its Merck-Medco unit to book revenues. The method, which is not used by several other top pharmaceutical19 companies, increased the company's revenues by several billions of dollars in 2001 along, according to the newspaper.
Shares of major wireless20 players finished sharply lower after Moody's Investor1 Service said it lowered the ratings for some companies to due to concerns about rapidly decelerating subscriber21 growth and industry competition, dealers said.
AT&T Wireless closed down 13 cents at 5.87 usd, Nextel Communications Inc down 26 cents at 3.16 usd, and Sprint22 PCS unchanged at 4.10.
Brokerages lost early gains to close lower despite a positive new research note from Merrill Lynch. JP Morgan ended down 39 cents at 32.99 usd, Goldman Sachs down 2.15 usd at 70.55.
MetLife closed up 1.15 usd at 29.72 after Morgan Stanley raised its rating on the stock to 'overweight' from 'equal-weight,' primarily due to the sharp decline in share price in recent weeks.
Xerox23 closed up 1.12 usd at 8.97 after obtaining a new bank loan and after Standard & Poor's affirmed its 'BB-' corporate credit rating on Xerox Corp and related entities24 and removed them from CreditWatch, where they were placed on April 18.