Inflationary fears fuel broad sell-off
In the twilight of last week's horrific close, Merrill Lynch investment analyst Willis Greco put vodka in his ginger ale, loosened his tie and picked up the phone to confide, "Wipe out."
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In the twilight of last week's horrific close, Merrill Lynch investment analyst Willis Greco put vodka in his ginger ale, loosened his tie and picked up the phone to confide, "Wipe out."
Reaching a scientific milestone at least four months ahead of industry expectations, biotechnology company Celera Genomics Group announced Thursday it had taken the first step in unlocking the human genetic code by sequencing the complete genome. This landmark has researchers predicting it will bring about a revolution in understanding mankind's molecular makeup and the development of medicines. The news sent biotech stocks soaring.
When Willis Greco, assistant trader at Merrill Lynch & Company, saw the Telerate numbers on his Internet hot stocks down by at least 30 percent at midday Friday, the honeymoon of his love affair with tech growth was over. He sighed, signaling it was back to business as usual.
In abstraction, the flash of a light bulb often symbolizes a novice entrepreneur's idea; in the real world, however, an idea can stagger its conceiver like a bolt of lightning, rendering his vision blind to practicalities, and the fledgling startup that had shown so much promise spirals subsequently into ruin.
Minus irascible brokers shouting amidst the torrent of flying paper, walk into the University's newest classroom and you may think you've stepped onto the floor of the New York Stock Exchange.
When the acceptance letter came in last November, fourth-year College student Luis Maes was finished with his job search. The employer offered zero wage in the Dominican Republic, the second poorest country in the Caribbean, where woodfuel remains the largest source of domestic energy and the annual per capita income hovers around $1,320. An Economics major, Maes naturally accepted.
Not so long ago, it was a novelty for muffled ringing to escape suddenly from a fellow student's backpack. But thanks in part to the advent of the digital network, it seems that students taking advantage of cellular technology have become far more commonplace.