NEW YORK: Investors sold off stocks on Friday, pushing the Nasdaq to its biggest percentage loss in a month as poor outlooks from Microsoft Corp and International Business Machines Corp sank hopes for a quick improvement in corporate profits in 2003.
Microsoft fell 7%, its biggest decline since late July, after the software giant lowered its earnings forecast on Thursday. IBM fell more than 5% as analysts cut their earnings estimates on worries about growth at Big Blue.
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