- The Washington Times - Tuesday, March 4, 2003

NEW YORK, March 4 (UPI) — U.S. shares took a beating Tuesday, as investors worried about geopolitical risks and remarks by investment sage Warren Buffett, who said late Monday that stocks could still be overvalued.

The blue-chip Dow Jones industrial average slid 132.99 points, or 1.70 percent, to end at 7,704.87, while the tech-heavy Nasdaq index fell 12.52 points, or 0.95 percent, to close at 1,307.77.

The broader New York Stock Exchange composite index fell 71.33 points to close at 4,638.05, the Standard & Poor's 500 index fell 12.82 points to 821.99, the American Stock Exchange composite was flat, rising 0.03 points to close at 829.74, and the Wilshire 5000 Index dropped 113.36 points to close at 7,807.01.

Volume was 1.41 billion shares on the Big Board and 1.18 billion on the Nasdaq Stock Market.

Investors have been rattled by a new terrorist attack in Asia, this time in the southern Philippines, where more than two dozen people were killed by a bomb and more than 100 injured, according to the U.S. State Department. News that a U.S. military aircraft was tailed by North Korean fighter jets over the weekend across the Sea of Japan also caused market jitters.

Buffett said in his annual letter to shareholders of Berkshire Hathaway that his group finds "very few" stocks "even mildly interest us" and warned that the market could fall further.

U.S. Treasury prices were up, with the 10-year bond rising 7/32 to 101 28/32. Its yield, which moves in the opposite direction of its price, fell to 3.65 percent.

In Europe, stock prices fell. The London International Stock Exchange's blue-chip FTSE-100 index was down 59.40 points at 3,625.30. The German DAX index was down 45.43 points at 2,504.22 and the French CAC-40 index lost 85.91 points to 2,676.34.

Asian stock markets moved broadly lower Tuesday. In Tokyo, the Nikkei 225 Stock Average fell 0.1 percent to 8,480.22.

In Singapore, shares ended at a 19-month low, with the Straits Times index down 0.8 percent to 1,268.96.

Shares also ended lower in Taiwan, Hong Kong, South Korea and Thailand.

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