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Irish Mirror Comment: Stock tremor may still strike.

THE tremors that have hit the hi-tech stock market in America have not passed Ireland by.

Some home-grown companies have already disappeared.

Now US firms with multi-national operations and an important presence here have felt the draught.

That has added to concerns over the outlook for economic growth.

The profit warning last week from Intel was the trigger for the latest upheaval on the Nasdaq exchange.

It is one of the largest employers in Ireland. That's something that gives pause for thought.

Cisco Systems, the computer networking company, has made job cuts.

The mighty Yahoo, the lord of the era, was badly shaken up as investors began to shun the internet companies.

That was bound to lead to a slowdown in development.

The huge growth of such firms was beyond the predictions of the most optimistic pundit.

Possibly because they were still in their infancy, nobody knew were they were going.

The same reason may mean that their difficulties are being over- estimated.

Lack of investor confidence isn't easily cured and the difficulties will drag on for some time yet.

The slump has already darkened the outlook of the American economy.

The Irish scene may yet feel pain.
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Copyright 2001 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Leader
Publication:The Mirror (London, England)
Date:Mar 14, 2001
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