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 more than six per cent down at one point.

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.

The markets are also concerned about the effect on company finances of further expected interest rate rises by the US central bank, the Federal Reserve.

From the newsroom of the BBC World Service