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Dow falls 84
Associated PressNEW YORK -- Wall Street endured another roller-coaster session today, with market averages recovering from punishing losses and finishing only moderately lower. The market's volatility underscored investors' nervousness, particularly about high-tech stocks.
At its low point, the Nasdaq composite index wiped out virtually all the spectacular gains it piled on from early November until March 10, when it peaked at 5,048.62. Bargain-hunters salvaged the session, but analysts say the index remains highly vulnerable amid fears that corporate earnings will be hurt by rising interest rates.The Nasdaq finished the session down 26.19 at 3,364.21. At its low point, the Nasdaq was at 3,172.65 -- a level not seen since last fall, when the index began its record-breaking ascent.
The Dow Jones industrial average nearly matched the Nasdaq in volatility, plummeting more than 250 points before clawing back and finishing down 84.30 at 10,542.55. The Standard & Poor's 500 fell 6.23 to 1,400.72.
Decliners beat advancers by a 3-to-2 margin on the New York Stock Exchange, with 1,771 down, 1,161 up and 432 unchanged. NYSE volume totaled 868.63 million shares vs. 853.84 million Friday. The NYSE composite index fell 4.63 to 634.92; the American Stock Exchange composite index sank 10.40 to 903.63; and the Russell 2000 index lost 8.03 to 471.67.
The yield on the benchmark 10-year Treasury fell 2 basis points to 6.47 percent. The yield on the two-year note fell 1 basis point to 6.83 percent. The yield on the 30-year bond slipped 2 basis points to 6.19 percent.