Article Abstract:
Technology stock prices have become more volatile and this is especially true for some individual companies. A ruling against Microsoft in an antitrust case triggered one drop in technology stock prices. High valuations mean that many technology stocks are vulnerable. Stock prices are not likely to stop falling when they hit fair value, though it is uncertain whether the technology bubble has ended. Strong stock prices have a political significance, and there is a US presidential election in 2000.
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Article Abstract:
The regulation of the US stock market, and appointment of a new chairman for the Securities and Exchange Commission, are examined in detail.
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Article Abstract:
The US economy appears to be characterized by low inflation and balanced economic growth, but a problem has developed of asset-price inflation. There is a danger that greater household wealth could lead to excess demand. Stock prices are overvalued, real estate prices are rising, the money supply is increasing and mergers are becoming increasingly common. The view that stock prices are justified by changes in the economy has been voiced on previous occasions, shortly before a drop in stock prices. The impact of asset-price inflation will be more severe the longer it lasts.
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