Sharp falls in US share prices

There have been more sharp falls in share prices in the United States, with new technology companies taking the brunt of the losses.

The NASDAQ market, which includes many new technology companies, was six percent down an hour after trading began.

Analysts say investors continue to worry about the level of new technology share prices in relation to their earnings; many of the newer companies have never made a profit.

They say the markets were also concerned about the effect that expected further interest rate increases by the Federal Reserve might have on company finances.

From the newsroom of the BBC World Service