NEW YORK -- The Dow industrials plunged 216.53 points today in the first real barrage of profit-taking since the stock market rebound began less than two months ago. Recording its first one-day loss of more than 200 points -- or even 100 points -- since Oct. 1, the Dow Jones industrial average sank 2.3 percent to 9,116.55 Dow off 216
The Standard & Poor's 500 fell 28.66 to 1,163.63, and the technology-heavy Nasdaq composite index fell 66.90 to 1,949.54.
Decliners beat advancers by a nearly 2-to-1 margin on the New York Stock Exchange, with 1,101 up, 2,051 down and 412 unchanged. NYSE volume totaled 685.88 million shares, up sharply from the light trading of Friday's shortened post-Thanksgiving session.
The NYSE composite index fell 11.50 to 571.50, and the American Stock Exchange composite index fell 10.34 to 663.58.
The Russell 2000 index of smaller companies fell 4.34 to 397.75.
The 30-year Treasury bond jumped 1 12/32 to 102 23/32, with its yield falling to 5.07 percent.
After a weeklong surge in prices, high-flying shares of Internet companies fell to Earth as traders took profits and pondered the true value of these companies, many which have yet to make money.
Onsale Inc., a Web auctioneer, plunged $36.121/2 to $61.50 after touching a record $108. Computer software retailers Egghead.com Inc. dropped $6.121/2 to $25.50. It earlier touched $40.25, a 52-week high.
No. 1 online book and music seller Amazon.com fell $24.621/2 to $192, EBay Inc., the high-flying online auction house, dropped $20.371/2 to $197.621/2 and No. 1 Internet search directory Yahoo! Inc. fell $24.933/4 to $192.