Dow Slides Below 10,000, Nasdaq Plunges 2.9%

Home>>World

Last updated at: (Beijing Time) Saturday, April 27, 2002

Dow Slides Below 10,000, Nasdaq Plunges 2.9%

DISCUSSION

CHINESE

SEND TO FRIEND

Stocks plunged Friday, shoving major market gauges toward the biggest weekly losses since the aftermath of the Sept. 11 attacks, as dreary forecasts from companies intensified fears of a tepid recovery in corporate profits. Investors ignored news that the economy snapped back in the first quarter, sending the Dow Jones industrials below 10,000 for the first time in more than two months. Tech stocks had the biggest losses in volatile trading, with the Nasdaq composite index closing at levels not seen since October. The Dow closed down 124.34, or 1.2%, at 9910.72. The index last closed lower on Feb. 21, when it stood at 9834.68. The technology-centered Nasdaq plunged 49.81, or 2.9%, to 1,663.89 �� the lowest finish since Oct. 18 when the index 1,652.72. The Standard & Poor's 500 index dropped 15.16, or 1.4%, to 1,076.32.

The decline capped a dismal week for stocks, and extended a losing streak that has seen the Dow fall six out of the last eight sessions, and the Nasdaq, seven out of eight.

For the week, the Dow fell 3.4%; the blue chips have now closed down five of the last six weeks amid investors' ongoing disillusionment with company earnings and outlooks.

The Nasdaq lost 7.4% for the week. It last closed lower on Oct. 31, at 1,059.78. The S&P lost 4.3% over the week.

Questions?Comments? Click here

Dow Slips Below 10,000, Sets up Worst Week in 11 Years

Dow Drops 247 Points

Know Who to Love, Who to Hate ( 13 Messages)

China Expresses Strong Dissatisfaction over Japanese PM's Shrine Visit ( 47 Messages)

China's Economy to Grow Above Six Percent ( 51 Messages)

China to Open up US$1.5 Trillion Trade Market in Five Years: Vice President ( 3 Messages)

Protests Prompt Retailer to Pull T-shirts Mocking Chinese-Americans ( 105 Messages)