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Dow down nearly 200 points

  1. IBM falls 4 percent in broad selloff ahead of Fed meeting, Cisco's numbers
    May 6, 2002: 4:10 PM EDT
    By Jake Ulick, CNN/Money Staff Writer


    NEW YORK (CNN/Money) - Steep losses in IBM, Caterpillar and United Technologies pushed the Dow Jones industrial average lower late Monday as investors braced for economic outlooks from the Federal Reserve and Cisco Systems.

    At the close, the Dow Jones industrial average fell 198.59 points to 9,808.04. The Nasdaq composite index dipped 34.61 to 1,578.42, while the Standard & Poor's 500 index lost 20.77 to 1,052.66.

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