S&P says: "WorldCom will be hard-pressed to reverse a slide in its long distance business and cut its $30B debt load. We may cut ratings." WorldCom shares have fallen 92% in the last 3 years; down 20% just this week. ... Many other telecoms suffered this week from concerns about profits, revenues, cash flow and accounting. ... Lucent, Nortel, Qwest are all trading near all-time lows. ... WorldCom's bonds are now quoted like junk bonds rather than like investment-grade bonds. "Fear dominates valuations right now." | 
