21.   The selling barrage was triggered by investor disappointment with quarterly earnings reports, or downgraded ratings, beginning with Cisco Systems.

22.   Toshiba Corp., Mitsubishi Electric Corp. and NEC Corp. paced the declines after Nomura Securities Co. downgraded its rating on semiconductor makers, saying profits will be below forecast.

23.   Two analysts also downgraded their ratings on such stocks.

24.   P.K. Choudhury, managing director of Delhi-based rating agency ICRA says that the agency has already downgraded ratings for a few companies based on these concerns.

25.   Downgrading the rating would increase the interest rates that the city pays.

26.   Downgrading the rating would increase the interest rates that the city pays on its debt.

27.   However, its bank financial strength rating was downgraded to C-plus from B-plus, reflecting its increased risk profile.

28.   Lehman downgraded its ratings on six companies, including BEA Systems Inc. and Veritas Software Corp.

29.   Merrill Lynch downgraded its ratings on the entire consumer products sector, depressing stocks including Colgate Palmolive and Kimberly Clark.

30.   Morgan Stanley Dean Witter downgraded its rating of the Des Moines, Iowa-based restaurant chain after it posted lower same stores sales growth in the second quarter.