Nasdaq, Dow Tumble In Light Trading

Tue., June 13, 2000

From Staff

Stocks fell sharply Monday, sending the Nasdaq composite index down more than 100 points, as reports from two companies suggested that second-quarter earnings won’t meet Wall Street’s high expectations.

An earnings warning from Citrix Systems Inc., a maker of computer network products, helped give the Nasdaq its worst loss since May 23. Meanwhile, Home Depot hurt the Dow Jones industrials after a Wall Street analyst said rising interest rates are taking a toll on sales.

The Nasdaq ended the day down 106.93 at 3,767.91. Since it lost 199 points on May 23, the index had been staging a gradual recovery.

The Dow fell 49.85 to close at 10,564.21, and the Standard & Poor’s 500 index was down 10.95 at 1,446.00. Both indexes gave up early gains.

Trading was light, convincing analysts that investors are trading cautiously in advance of several government reports on the economy due out later this week.

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Nasdaq, Dow Tumble In Light Trading

Jesse Tinsley

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