Business Services Industry
US move to avert rout in shares.
Australasian Business Intelligence, September, 2001
Sep 17, 2001 (The Sydney Morning Herald
ABIX via COMTEX) -- Australian strategists say that they expect an orderly sell-off in United States sharemarkets when trading resumes on 17 September 2001. US sharemarkets have been closed since the terrorist strike in New York City's financial district on 11 September. A decline of up to 10 is tipped. However, panic selling is expected to be curbed by intervention from the US Securities & Exchange Commission to support the market and suggestions of a 50 basis point cut in interest rates. How the Australian market responds to any sell-off in the US is unclear. Since the attack on the World Trade Center, Australia's All Ordinaries share price index has fallen by 4.3, a modest decline compared with the declines on European...
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