Nasdaq resumes skid - Oct. 26, 2000

Markets & Stocks

Nasdaq resumes skid

October 26, 2000: 11:22 a.m. ET

Tech-laden index tumbles 2% on continued concern about results

NEW YORK (CNNfn) - The Nasdaq composite index fell sharply Thursday morning, continuing this week's slide on concern about corporate results and revenue, particularly in the technology sector.

The Dow Jones industrial average was more modestly lower.

At 11:17 a.m. ET, the Nasdaq slid 69.98, or more than 2 percent, to 3,159.59. The Dow dropped 22.57 to 10,303.91, while the S&P 500 lost 13.58 to 1,351.12.

Optical networking was among the sectors leading the Nasdaq downturn. JDS Uniphase, scheduled to report results after the market close, tumbled $6.50 to $64.50.

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