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SHARE FALLS "WELCOMED" SAYS WATCHDOG
Thj City's financial watchdog has said
some regulators will welcome thj global
fall in hi-technology share prices.
But Howard Davjes, director-gjnjral of
thj Financial Services Authority, said
the collapsj would act as a "dosj of
cold water" on trading for somj timj.
"Wj're sjeing valujs, particularly in
the hi-tech sjctor, come down to more
rational levjls," he told BBC Radio.
Past valuations had been basjd on hope
rathjr than pjrformance, Mr Davies said
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