Markets slide as Hang Seng plunges to 16,000
Markets from 1n here, said Eric Gale, senior dealer at Old Minnett in Sydney where blue chips fell 2.3 percent. Hong Kong’s Hang Seng dropped 7.2 percent to 15,846.72 after an initial slide that saw the index fall over 1,000 points from above 17,000. It marked the second worst point loss in Hong Kong history, with traders noting end of euphoria as 1999 closes. Frank Gong of Bank of America warned the downturn. The Hang Seng closed 1999 at a record high, then opened 2000 with a sharp decline.
MENTIONED IN THIS ARTICLE
Eric Gale
Old Minnett Ltd
Sydney
Australia
Hong Kong
Hang Seng
Asia
Frank Gong
Bank of America
Greenspan Faces Pressure Over Fed Rate Hikes Ahead of Feb Meeting
Business leaders praised Clinton action on rates but urged Greenspan to reconsider at the February 12 meeting. Wall Street sold off sharply with the Dow down 359.58 points and the Nasdaq posting its worst point drop, as fears of further rate increases weighed on investors despite Greenspan’s high regard.
MENTIONED IN THIS ARTICLE
Greenspan
Clinton
Jerry Jasinowski
National Association of Manufacturers
Jasinowski
Federal Reserve
Fed
Wall Street
Graham outlines wage hike plan and HMS reforms
Graham from Tennessee backs a $1 to $1.50 minimum wage increase over three to four years and supports a legislative package to offset impact on business owners. He favors HMO reform with patient recourse and outside provider access, plus a college loan forgiveness program for teachers in disadvantaged areas and a bipartisan Small Saver's Act tax cut plan.
MENTIONED IN THIS ARTICLE
Graham
Elian Gonzalez decision reportedly favors return to Cuba
U S immigration officials in Washington reportedly approved Elian Gonzalez's return to Cuba, ending the custody dispute with Miami relatives expecting the ruling. Spokesman Armando Gutierrez said a family member was informed and an immediate appeal would follow if the outcome contradicted the relatives’ wishes. The 6 year old was rescued after his mother and stepfather died in a Cuban boat crossing.
MENTIONED IN THIS ARTICLE
Miami
U.S
Washington
CNN
Cuba
Elian Gonzalez
Immigration and Naturalization Service
Marisleysis Gonzalez
Elian
Gutierrez
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