New Year's hangover lasts an extra day.

Investment News, January, 2001 by Gabriel Jr., Frederick P.

And you thought that your New Year's Day hangover couldn't get any worse. U.S. stocks started 2001 on a dismal note, with the tech-laden Nasdaq Composite Index plunging to its lowest close since March 1999. Thanks to resurfacing worries about such things as corporate profits, the Nasdaq on Tuesday plunged 178.66 points, or 7.23%, to a 22-month closing low of 2,291.86.

The blue-chip Dow Jones Industrial Average slipped 140.70 points, or 1.30%, to 10,646.15, while the broader Standard & Poor's 500 stock index fell 37.01 points, or 2.80%, to 1,283.27. The sell-off followed the release of economic data that showed U.S. manufacturing fell to its lowest level in more than a decade. Of course, the markets got a much-needed shot of adrenaline...

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