The tech-heavy Nasdaq was dragged on by a bad outlook for networking component Finisar.
Since the beginning of the year, the tech-heavy Nasdaq has tumbled more than 16%.
The tech-heavy Nasdaq followed suit, falling 2.0%, or 48.58 points, to end the day at 2, 439.94.
The tech-heavy Nasdaq 100 index tracks the hundred largest non-financial companies listed on the Nasdaq.
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The major equity averages set multi-year highs on Friday, except for the tech heavy NASDAQ.
Technology companies had a particularly disappointing week, reflected by a 1.5% drop in the tech-heavy NASDAQ 100.
The major equity averages set new multi-year highs last week, as the tech heavy Nasdaq continues to lag.
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The sole exception is the tech-heavy Nasdaq, which remains far below the peaks it scaled in the dot-com bubble.
The technology-heavy Nasdaq Composite rose 0.1% to its highest finish since November 2000.
The tech-heavy Nasdaq registered a drop of 47 points to 2, 631, while the Dow fell 179 points to 11, 897.
One of the stocks moving in the technology-heavy Nasdaq index today is TiVo.
The tech heavy Nasdaq was the day's best performer, up 0.5% to 2, 630.6.
Curiously, for students of the human psyche, Andersen's downbeat report didn't effect the roaring liftoff of the Net-heavy NASDAQ exchange.
The Dow Jones Industrial Average shed over 300 points or 2.7% while the tech-heavy NASDAQ lost 61 points or 2.2%.
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While the tech-heavy Nasdaq edged up 1.2 points to 2, 846, the Dow Jones Industrial Average shed 27 points to 12, 603.
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Maybe in five years people will refer to the Nasdaq as the "energy-heavy Nasdaq, " and it will be at 5, 000 again!
The technology-heavy Nasdaq 100, as represented by the PowerShares QQQ Trust ( QQQ), has been showing better relative strength since mid-June.
However, it is clear that the likes of Yahoo (YHOO), Microsoft (MSFT), and Amazon (AMZN) greased the skids for the tech-heavy NASDAQ.
By October 2002, the tech-heavy NASDAQ had tumbled 76% to its trough.
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But while the good times are back--the tech-heavy Nasdaq hit a six-and-a-half-year high last week--tech trade and new-economy publications have not bounced back.
Yet, though the Dow Jones has fallen by 16% from it peak, the technology-heavy Nasdaq market has barely paused for breath in its ascent.
Gains for technology companies helped push the technology-heavy Nasdaq composite higher.
On Monday, the tech-heavy Nasdaq index again hit year lows, dragging European bourses down in its wake, as a cocktail of negative factors left investors reeling.
The tech-heavy Nasdaq was doing even better, up 0.9% to 2, 790, while the Dow Jones Industrial Average was up a third of a percentage point to 12, 343.
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In recent months, Intel and Apple have issued profit warnings, sending shockwaves through the technology-heavy Nasdaq index and renewing fears about the future profitability of the sector.
The declines were most extreme in the tech-heavy Nasdaq Composite.
Tech heavy NASDAQ (NASDAQ:QQQ) was hardest hit, ending the week 2.61 percent lower, dragged down by Google(NASDAQ:GOOG), Apple(NASDAQ:AAPL), Amazon.com(NASDAQ:AMZN), Intel (NASDAQ:INTC), and Microsoft (NASDAQ:MSFT).
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Tech heavy NASDAQ suffered a bigger loss of 2.9 percent, dragged down by Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN), and PC related stocks like Intel (NASDAQ:INTC), and Advanced Micro Devices (NASDAQ:AMD).
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