New York share prices remain in a corrective phase, but the downturn could soon run its course.
The recent volatility reflects investor concern over corporate earnings and economic prospects and falling investor confidence mirrors skepticism about further interest rate cuts.
New York share prices took a beating repeatedly in recent weeks after U.S. Federal Reserve Chairman Alan Greenspan told a congressional committee that the U.S. economy faces the risk of a sharp slowdown, adding, however, that the economy should recover by year's end.