Stocks End Week Down

Sat., Oct. 7, 2000

From Staff

Stocks fell sharply Friday, pushing the Nasdaq composite index to its lowest level since May, as profit worries again rattled technology shares and a drop in unemployment rekindled inflation fears.

The technology-focused Nasdaq composite index fell 111.09 to 3,361.01, only about 150 points above this year’s lowest close at 3,205.11 on May 26. For the week, the Nasdaq fell 311.81, or 8.5 percent.

The Dow Jones industrial average fell 128.38 to 10,596.54, its lowest close since August, giving the blue chips a loss of 54.38 for the week. The Standard & Poor’s 500 fell 27.29 to 1,408.99, giving it a loss of 30.35 for the week.

“The market remains nasty and nervous,” said Alan Ackerman, senior vice president at Fahnestock. “There are not many who believe we’ve hit the bottom yet.”

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Stocks End Week Down

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