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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Technology companies had a particularly disappointing week, reflected by a 1.5% drop in the tech-heavy NASDAQ 100.
The sole exception is the tech-heavy Nasdaq, which remains far below the peaks it scaled in the dot-com bubble.
The tech-heavy Nasdaq registered a drop of 47 points to 2, 631, while the Dow fell 179 points to 11, 897.
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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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.
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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The declines were most extreme in the tech-heavy Nasdaq Composite.
Last week Broadcom, which produces the brains for set-top boxes and other online gear, was listed on the Nasdaq, the tech-heavy American stockmarket.
Viacom also said Friday it is moving its stock exchange listing, going from the storied New York Stock Exchange to the tech-heavy, and less costly, Nasdaq.
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The major equity averages set new multi-year highs last week, as the tech heavy Nasdaq continues to lag.
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The major equity averages set multi-year highs on Friday, except for the tech heavy NASDAQ.
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