26 January 2001, 16:42 Nasdaq ends down 3.37% after late rally, Dow Jones up
New York--Jan. 25--The Nasdaq fell more than 3% as selling pressure
set in after recent gains. The decline in technology stocks gave the Dow
industrials a boost, however, as investors rotated money into cyclical,
drug and retail stocks. Meanwhile, Fed Chairman Alan Greenspan's comments
before the Senate Budget Committee offered hope of an aggressive rate cut
next week, some analysts said. The Nasdaq closed down 104.82, or 3.67%, to
2754.33 and the Dow was up 82.55 to 10,729.52. The S&P 500 was down 6.79
to 1357.51.
© 1999-2024 Forex EuroClub
All rights reserved