ADVISORY/Van Kampen Funds Expert Questions the Rationale of Today's Market Drop.--(BUSINESS WIRE)-- Key Issue: The Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. drops more than 200 points following more worrisome economic news from overseas. In reaction to several negative factors from Europe, Asia and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , U.S. investors pulled back on stocks from several sectors including technology, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , and consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and . Commentary: Jack Doyle For the baseball player, see Jack Doyle (baseball player) Jack Doyle (August 31 1913 in Cobh, Ireland - December 13 1978 in Paddington, London), known as "The Gorgeous Gael" was at one time or another contender British Boxing Championship, Hollywood actor and an , chief investment strategist with Van Kampen Funds says the big drop is a case of investors taking small profits because of uncertainty over future growth. Doyle believes many investors are responding irrationally to two factors: 1. Fed interest rate not being cut. 2. A drop in the earnings outlook by European telephone equipment maker Alcatel. As a result, Doyle expects nervous investors to take quick profits and continue trading while the Dow stays between 7,500 and 8,000 points. Interviews: To schedule an interview with Jack Doyle please contact: Eileen Davis, Van Kampen Funds 630/684-6886 Phil LeBeau, Van Kampen Funds 630/684-6879 |
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