US Report: Microsoft kills interest rate optimism

ZDNN, US ZDNet US

Published: 19 May 1998 06:30 BST

The Dow Jones industrial average, the Nasdaq and the @Net index all declined yesterday in the face of software giant Microsoft preparing to face antitrust lawsuits and injunctions from 20 states and the Department of Justice.

The imminent misfortune has overshadowed optimism that the Federal Reserve is unlikely raise rates at their policy meeting today.

The Dow fell 30 points to 9,065, the Nasdaq dipped 11 points to 1,834 and the @Net index declined 1.68 points to 331 by noon yesterday. Microsoft shares fell four percent to 85 3/4 after 20 states and the Department of Justice were preparing to seek a preliminary injunction against the company. The injunction seeks to stop the software giant from integrating its Internet Explorer Web Browser into the Windows 98 operating system or include another company's browser, such as Netscape's Navigator.

Netscape shares were up 1/2 to 28 7/16.