Kate Warne Begin Quotations

(The TSE 300) started sliding at the beginning and it just kept sliding. Nortel accounts for most of it but you have Seagram pulling back, techs took a big hit. It's pretty much across the board.

All of the normal sectors were people beginning to worry about interest rates and about future profitability and future growth, they really dropped.

People sell on fear and when they have a chance to look at the fundamentals, begin to think again about whether the fear they had really made sense and buy back in.

People are beginning to think that we've seen the worst of the pre-announcements and missing forecast news. There's also increasing speculation that the Fed will cut interest rates by one-half a percent on Wednesday.

I think that some people are waiting to see whether the market is beginning to indicate one way or the other, whether the Fed will do something different. So there's money on the sidelines right now.

I think the rest of it was probably just the general feeling that techs had run toward the end of August and people were again beginning to get a little nervous about what was going on,

It was a very strange day, I think. Thursday the market hadn't bothered to listen. Today, they listened, ... We saw some profit-taking because things have been moving (up) so much. As people begin to get nervous about whether we'd see higher rates and exactly how fast things would grow, they were pulling some money off the table.

I think bouncing around flat is probably what we'll see for the next few months until something begins to give us a clue on the next direction.

It sounds like it's pretty much what we'd expected at this point. But everybody is still worried about how long the consumer can sustain the economy. So the fact they are only up a tenth of a percent, people are beginning to worry whether the consumers are really going to slow down, and the economy with it.

What you saw today was the beginning of investors looking at other segments to say 'where are some values?' And that's why we saw some increases in some oil stocks, some metal stocks, some other areas that haven't done so well.