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Fundranker Blog—Nasdaq Composite Breaks Lower

Nasdaq Composite Breaks Lower

On March 5, 2009, the Nasdaq Composite Index broke through its November 20, 2008, low to close at a level last seen in March, 2003, joining the Dow Jones Industrial Average and the S&P 500 Index, which broke through their November 20 lows about two weeks ago. The DJIA since has retreated to levels last seen in April, 1997, while the S&P 500 has fallen to levels last seen in September, 1996. As of the close on March 5, the Nasdaq Composite Index remains about 30 points over its March, 2003, low. The Nasdaq Composite Index, heavily weighted toward technology stocks and now set back six years, seems to be weathering the storm better than the DJIA, now set back 12 years, and the S&P 500, now set back 13 years. Perhaps the technology sector will lead us out of this recession.

Posted 3/5/09 9:28pm ET in Market