"But the market may have overreacted to the proposal, because we don't know all of the conditions that will apply."

Some analysts said the market had overreacted to the Greenspan comments.

A number of financial professionals said last night that they thought the markets might have already overreacted to the potential for war.

"The markets are overreacting to things they don't understand."

He said that the market has overreacted to these problems.

But some analysts suggested that the market overreacted to the ruling.

"Anything that happens, probably the market overreacts either way, both upward and downward," he said.

So we have to ask why the market is overreacting.

But traders assessing the industrial production data said that the market might have overreacted.

At the time, some securities analysts said the market had overreacted to one disappointing set of numbers.