Hunt for al Qaeda's No. 2, 1st anniversary of Iraq war could renew terrorism concerns for markets.
March 19, 2004: 6:13 AM EST
NEW YORK (CNN/Money) - The worldwide hunt for terrorists -- particularly a high-level al Qaeda operative in Pakistan -- could again drive U.S. stock markets Friday.
Early Friday, futures pointed to a slight dip in the major indexes at the opening bell.
While markets finished lower Thursday, the major indexes were up from their bottom levels as investors cheered reports that Pakistani forces believe they've surrounded a key al Qaeda operative. The Dow Jones industrial average was just 4-1/2 points lower and stands 55 points higher for the week to date. The Nasdaq composite index fell 0.7 percent and is 22 points in the hole going into the week's final session.
But so far Friday there has been no word about the fate of the al Qaeda figure, Ayman al-Zawahiri
In Iraq, the first anniversary of the war that toppled Saddam Hussein is an uneasy one after bombings in Baghdad and Basra over the past two days.
And concern about political violence isn't restricted to the Persian Gulf. In Taiwan, the president and vice president were wounded by gun shots Friday; both are reported in stable condition and their wounds aren't seen as life-threatening.
CORRECTION
An earlier version of this story incorrectly described Japan's markets as closing higher.
Asian-Pacific stocks ended mostly lower Friday; Tokyo's Nikkei was down up 0.6 percent. Taiwan's main stock index was 0.4 percent higher, having closed before word of the president's shooting. European markets were higher. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Adobe Systems (ADBE: Research, Estimates) shares rose 9 percent. The software maker posted record fiscal first-quarter earnings and revenue.
Treasury prices fell in early trading, sending the 10-year note yield up to 3.76 percent from 3.75 percent late Thursday. The dollar gained ground against the yen and euro.
Brent oil futures pulled back 25 cents to $32.88 a barrel in London, where gold was lower.
Friday is a quadruple witching day, when stock index options and futures and individual stock options and futures all expire simultaneously. While there is often volatility in the markets, it usually occurs in sessions prior to, rather than the day of, the expirations.
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