Eurogloom

Nokia was one thing. sure, Europe's investors were spooked earlier this month when Finland's high-tech wonder company admitted its second quarter earnings were going to take a dive. The firm had been dead wrong in its estimates of the growth in the market for mobile handsets; consumers worldwide will likely buy about 100 million fewer cell phones than Nokia had hoped. Ouch. We might have taken comfort, however, in the fact that Nokia is no bellwether for the European economy. Like most companies in the tech and telecom sectors, it's just paying the price for the irrational exuberance of 2000. (Wireless...

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