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Wall Street Stocks Index Drops Sharply
Wall Street started 2001 on a dismal note, unnerved by the same problems that sent the market plunging last year. The Nasdaq composite index tumbled 7.2% as nervous investors unloaded technology issues while blue chips also fell sharply on similar concerns about profits and the slowing economy. The losses extended a trend that made 2000 the worst year ever for the Nasdaq and the weakest in nearly two decades for the Dow Jones industrials. The Nasdaq closed down 178.66 at 2291.86. The Dow Jones industrial average fell 140.70 to 10,646.15, a 1.3% loss. The Standard & Poor's 500 index was down 2.8%, falling 37.01 to 1283.27.
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