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Dow briefly flirts with 10,000
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March 16, 1999: 4:15 p.m. ET
Blue chip index passes landmark, but party lasts only minutes before retreat
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NEW YORK (CNNfn) - Tuesday was supposed to be a historic day on Wall Street -- the date on which the Dow industrials reached a five-digit reading for the first time in their 114-year history.
But after testing the air above 10,000 for a few minutes in the first half hour of trading, the Dow succumbed to jitters and quickly retreated. It was business as usual on Wall Street for the rest of the day and the stock market closed narrowly mixed.
According to preliminary data, the Dow Jones industrial average lost 28.30 points to close at 9,930.47 after climbing as high as 10,001.78 early in the trading session.
The Nasdaq Composite rose 7.80 to 2,439.24, but the S&P 500 index slipped 0.90 to 1,306.36.
The bond market rallied, taking courage from a speech by Alan Greenspan, in which the Federal Reserve chairman hinted inflation remains absent in the robust U.S. economy. The bellwether 30-year Treasury bond gained 23/32 of a point in price, lowering the yield to 5.47 percent.
The dollar spent the day lingering in narrow trading ranges against both the yen and the euro. 
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