2A - The Michigan Daily - Monday, September 24, 2001
NATION/WORLD
4
raders plan for more uncertainty
NEW YORK (AP) - Still recuperat-
ing from one of Wall Street's worst
sho'wings ever, investors are preparing
for another week of uncertain stock
trading.
i With the economic fallout from the
terrorist attacks still being assessed and
the prospect of military action, many
investors and analysts expect more,
bumpy sessions.
Even news of a $15 billion govern-
. ment aid package for airlines wasn't
guaranteed to improve sentiment in a
market troubled even before the attacks.
"We're just in for some rough eco-
nomic times over the short-term," said
John Broussard, an assistant professor
of finance at Rutgers University's
School of Business. "This is a time
when the basic economic fundamentals
did not look good to start with, and
these attacks did not help. "Investors are
just nervous."
Uncertainty last week translated into
double-digit percentage declines on
the major market indexes. It was the
biggest point loss and the fifth worst
week ever for the Dow Jones industri-
als, which dropped 1,369 points over
five sessions.
Before the Sept. 11 attacks, such
strong selling might have signaled that a
market turnaround was imminent.
Investors, finally convinced that the
market had done all the selling it was
going to do, might have swooped in to
buy stocks at the lowest prices seen in
three years.
But that has yet to happen. With
troops mobilizing, military equip-
ment headed to the Persian Gulf and
President Bush talking about a war
on terrorism, the economic climate
has changed.
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.JERUSALEM
Sharon calls off talks, demands calm
Despite a decline in Mideast violence, Israeli Prime Minister Ariel
Sharon called off long-awaited truce talks yesterday and said Yasser Arafat
must bring a complete halt to Palestinian attacks before any discussions
can begin.
Angry Palestinians called the move "irresponsible," saying it under-
mined efforts by the United States and other foreign governments to calm
tensions in a region wracked by a year of fighting.
Arafat, the Palestinian leader, declared a cease-fire Tuesday, and Israel
immediately announced a halt to offensive military operations. Since then,
one Palestinian and one Israeli have been killed. The sides have exchanged
fire on several occasions, and Palestinian militants have fired mortars in
the Gaza Strip, but the level of violence has dropped.
However, Sharon is insisting on a full 48 hours without any unrest.
"These meetings can take place once there will be full cessation of terror
and hostilities," he said in an interview with the Fox News Channel. "We
did not ask too much."
Arafat and Israeli Foreign Minister Shimon Peres have been trying to
arrange a meeting for a month and had planned to meet yesterday.
WARSAW, Poland
Leftist party takes most parliament seats
A leftist party with roots in Poland's former communist regime won a majority in
parliamentary elections yesterday, according to exit polls that also indicated the
political extinction of Solidarity.
Solidarity - the party that led Poland out of communism 12 years ago but has
splintered to a remnant of its former self under a string of defections, infighting and
corruption scandals - failed to get any seats, according to two separate exit polls.
If the results hold, Democratic Left Alliance and its small ally, the Labor Union,
will have won an outright majority in the 460-seat Sejm, parliament's lower house.
Exit polls by the private polling agency PBS showed the Democratic Left bloc
with 44.9 percent of the vote, representing 231 seats. A separate exit poll by the pri-
vate OBOP agency showed the party winning 240 seats.
Solidarity, which needed 8 percent to stay in parliament, won just 4.5 percent,
PBS said.
Cheers went up in the headquarters of the Democratic Left Alliance as the results
were posted. Party leader Leszek Miller, 55, who is poised to become Poland's
next prime minister, was on his way back to Warsaw from his hometown, Lodz.
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Poll finds Europeans
support war on terror
A majority of people in several Euro-
pean countries and Israel want their
nations to take part in a well-planned'
military action against the terrorists
behind last week's attacks against the
United States, two new polls suggest.
Some 79 percent of British adults and
73 percent of French adults surveyed in
the Taylor Nelson Sofres poll said their
nations should cooperate in a U.S.-led
military campaign aimed at the master-
minds of the Sept. 11 attacks.
The poll was carried out by Gallup
International Association and published
Wednesday in the French newspaper
Liberation.
More than half of Germans polled, or
53 percent, said they would support a
role in a U.S. military anti-terrorism
campaign, as did 66 percent of Italians
and Israelis, 80 percent of Danes, and
58 percent of Spaniards and Norwe-
gians. '
BARI, Italy
Robbers steal $4.6
illion n euro coins
Robbers in masks and bulletproof
vests broke into a postal depository
Sunday, stealing about $4.6 million in
new euro coins yesterday - the second
euro theft so far.
The robbery in the southern Italian
port city of Bari came several weeks
after an armored truck was held up in
Germany. The euro will replace local
currencies as legal tender in 12 Euro-
pean Union countries on Jan. 1.
The thieves Sunday broke into
the building using a wrecking ball
and fled after an alarm sounded and
guards rushed to the high-security
depository, where the coins were
awaiting distribution to banks and
post offices throughout the Puglia
region, said Salvatore Barilaro, a
police spokesman.
The guards arrived within two min-
utes, Barilaro said, preventing the rob-
bers from stealing even more.
LOS ANGELES
Napster closes in
on licensing deal
Taking another key step toward
legitimacy, the embattled Napster Inc.
online song-swapping service is
poised to strike a sweeping licensing
deal with the-agency representing most
U.S. music publishers, sources said.
The company could announce as
early as today an agreement with the.
Harry Fox Agency, an arm of the
National Music Publishers Associa-
tion. The licensing deal would clear
the way for Napster to launch a new,
fee-based service that compensates
artists, songwriters and labels when
their works are copied.
A spokeswoman for Napster
declined to comment on the pending
deal, and officials at the Harry Fox
Agency could not be reached. Terms
of the deal were not available, nor was
there any indication whether the deal
would settle the publishers' copyright-
infringement claims.
- Compiled from Daily wire reports.
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EDITORS: David Enders, Lisa Kolvu, Caltiln Nish, Jeremy W. Peters
STAFF: David Bayblk, Kristen Beaumont, Kay Bhagat, Ted Borden, Ama Clark, Uzzle Ehde, Rachel Green, Usa Hoffman, Elizabeth
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EDITORIAL Michael Grass, Nicholas Woomer, Editors
ASSOCIATE EDITORS: Johanna Hanink, Aubrey Henretty, Manish Rail, Josh Wickerham
STAFF: Howard Chung, Kevin Clune, Sumon Dantikl, Rachel Fisher, Catherine Groat, Henry Hyatt, Afd Paul, Zachary Peskowitz, Jess
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SUB-EDITORS: Lisa Rat (Books), Andy Taylor-Fabe (Film), Jim Schiff (Fine/Performing Arts), Luke Smith (Music), Jeff Dickerson (TV/New Media)
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PHOTO Jessica Johnson, Marjorie Marshall, Editors
ASSOCIATE EDITORS: David Katz, David Rochkind
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ONLINE Paul Wong, Managing Editor
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