15 March 2001, 10:55 US Stocks
In stocks, violent selling swept prices sharply lower Wednesday.
Like Monday, selling was far out of proportion to the session's news, a
contrast to hopes just last week that the market had grown insensitive
to bad news. Losses continued to be centered in non-technologies, the
group that until now had held up best during the six-week selloff. In
January, hopes were strong the Dow would hold above 11,000. The Dow
industrials closed below 10,000, down 318.23, or 3.1 percent, at
9972.57. The S&P 500 was down 30.95, or 2.1 percent, at 1166.71. The
Nasdaq composite was down 42.69, or 2.1 percent, at 1972.09. Even
during the worst of the morning selloff, the index has remained above
its Monday low of 1922.78.
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