Markets end day on a down note again

While the Nasdaq composite was up as much as 150 points, the index closed off 26.57, to 3,743.06. Microsoft recovered a bit, bringing with it other software and computer related issues, including Intel and Qualcomm. But in the end the flight from techs prevailed. Declines beat out gains by 27-14 on the index.

The Dow Jones industrial average was also dragged down by interest rate jitters. While there were no signs of inflation except for expensive oil, higher retail sales indicate that the U.S. economy will almost certainly be cooled off again by the U.S. Federal Reserve when they meet next month. Financials, like American Express, J.P. Morgan and GE slipped. So did retails like Home Depot, and paper stocks. The index knocked off 135.89 to 10,989.24. Losers outplayed winners by 17 to 12 on the NYSE.

In Canada, it was much the same story, although the financials capped off loses on the TSE 300 composite, which closed down 82.27 points to 8,965.40. The Royal Bank added 65¢ to C$76.10. Toronto Dominion edged up by 70¢ to $37.60, and BMO crept up to $55.85, up 45¢.

Nortel dropped C$6 to $146.50 and BCE was off by $3.50 to $152.50. Research in Motion continued to drop after yesterday’s earnings scare, down another $5 to $62.40. JDS Uniphase slid to $134.40, off $6.10. Certicom dropped, too.

The Canadian Venture Exchange was led down by techs again, but its oil and gas sector rallied by 1%, led by a 1900% increase in Green Point Resources, to C$1.45. The market dropped 64.31 points to 3719.42.