Interest-Rate Fears Chill Markets - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Business & Finance
05:17 PM

Interest-Rate Fears Chill Markets

Concerns that interest rates are going to rise took their toll on Wall Street, especially on technology stocks.

Tech issues took a beating on Wall Street again Thursday as investors continued to exercise caution amid fears of expected interest-rate increases. Economic reports didn't help, either. The Commerce Department said the gross domestic product grew 4.2% in the first quarter, indicating economic growth that was well below expectations. Meanwhile, higher-than-expected rises in the chain price deflator, personal consumption spending index, and employment cost index confirmed concerns that inflation is under way.

Thursday's sell-off left all areas of the technology sector reeling. Among the most active issues, Cisco Systems was down 46 cents, or more than 2%, to $21.91; Applied Materials fell 51 cents, or 2.7%, to $18.43; Dell Computer was down 36 cents, or 1%, to $35.29; Oracle fell 47 cents, or 3.95%, to $11.43; and Yahoo fell $1.12, or 2%, to $54.71. One notable anomaly was change-management software vendor Marimba, which rose $3.20, or 65.7%, to $8.07 on news that it was being acquired by BMC Software, which fell $1.45, or 7.4%, to $18.05. The Nasdaq-100 trading stock was down 57 cents, or 1.6%, to $35.63, on heavy volume of 151.2 million shares.

While all the major indexes had a rough day, the tech-heavy Nasdaq and InformationWeek 100 were hardest hit. The InformationWeek 100 fell 5.89, or 1.8%, to 314.64, while the Nasdaq fell 30.76, or 1.6%, to close at 1,958.78. The Dow Jones Industrials fell 70.33, or 0.7%, to finish at 10,272.27, and the S&P 500 fell 8.53, or 0.8%, to 1,113.89.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
How to Create a Successful AI Program
Jessica Davis, Senior Editor, Enterprise Apps,  10/14/2020
Think Like a Chief Innovation Officer and Get Work Done
Joao-Pierre S. Ruth, Senior Writer,  10/13/2020
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
Register for InformationWeek Newsletters
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll