Tech stock earnings plague US stocks, Nasdaq and Dow Jones down 49pts and 114pts

Affected by earnings warnings issued by many big names such as Juniper Network and 3Com, the US stock suffered obvious pressure last Friday. Nasdaq erased 48.9pts, or 2.16% to close at 2215.5pts. New York Stock Exchange was opened after an 80-minute delay caused by computer glitch, which brought the Dow Jones Industrial Average sharply down 113.74pts, or 1.03 to end at 10977pts.

As a result of the earnings warnings, Juniper Network and 3Com both shed 18.64% and 3.53% respectively to US$38.02 and US$5.46. As for other tech stocks, Cisco System (4333), Intel (4335) and Microsoft Corp (4338) lost 6.1%, 1.51% and 0.67% to US$20.49, US$30.67 and US$73.19, respectively.

US 30-year treasury bond yield edged up by 0.014% to stand at 5.73%.

European stocks dropped slightly, except UK Financial Times index up 2.3pts to finish at 5950.6pts. 

German DAX index eased 2.96pts to close at 6187.21pts.

French CAC index dipped 13.46pts, or 0.2% to finish at 5453.39pts.        

London Hong Kong stocks went soft, with HSLRI down 21.25pts over the closing yesterday in Hong Kong to close at 13787.64pts.

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