New York--March 1--The Nasdaq erased an earlier 3% loss and closed in positive territory for the first time in four days as investors scooped up stocks that have been recently beaten down. The broader market also trimmed losses, although traders warned not to read too much into the late rally, which may have been boosted by short-covering and illiquid conditions. The Nasdaq closed up 31.48, or 1.46%, to 2183.31 and the Dow was down 45.14, or 0.43%, to 10,450.14. The S&P 500 was up 1.20, or 0.10%, to 1241.14.