Stock market sees another sharp drop
NEW YORK - Stocks fell sharply Tuesday as investors girded themselves for third-quarter earnings reports.
The Nasdaq closed down 115.02 at 3,240.54. The Dow Jones average fell 44.03, to 10,524.40.
Declining issues outnumbered advancers by a 14-to-9 ratio on the New York Stock Exchange, where volume came to 1.04 billion shares, ahead of the 714.15 million in the previous session.Investment seminar scheduledA.G. Edwards & Sons and GoldmanSachs Asset Management will hold a free seminar on investing strategies at 6:30 p.m. Monday at Westlake Country Club.
The seminar, titled "Is The Bull Market Over? Investing Strategies for a Volatile U.S. Market," includes dinner. Seating is limited, and reservations are required.
For more information, contact Neil Klapthor at (706) 869-1061.
IBM unveils chip-plant plans
ALBANY, N.Y. - IBM Corp. plans to build a $2.5 billion computer chip manufacturing plant north of New York City that will create 1,000 jobs.
The company said it will build the plant at the Hudson Valley Research Park in East Fishkill, 60 miles north of New York City. It is scheduled to begin operations in 2002 and reach full production the next year.
Actors urge product boycott
CINCINNATI - Some Hollywood actors urged consumers to ignore three Procter & Gamble Co. brands in a dispute over the company's use of nonunion actors during an advertising strike.
"I pledge not to brush my teeth with Crest, wash my clothes with Tide, and 99 percent pure is not Ivory," Eli Wallach said at a protest Tuesday in New York, where he was joined by stars such as Susan Sarandon, Tim Robbins and Robert Klein.