The Nasdaq composite index fell 58.57 points, or 1.7 percent, to 3,400.91. All of that loss was in the final 30 minutes. Both indexes spurted ahead more than 200 points the day before. Bulls and bears had something at stake yesterday. Bulls say the market went through a normal consolidation process after Tuesday's big gains.
Bears say the bulls failed to show any follow-through.
Trading activity remained light. The Northwest's two Dow-industrial stocks were fractional decliners. Reflecting the relatively narrow stock-index moves, individual stocks from the region were extremely tame. Metawave Communications, a maker of antennas for the wireless industry, was among the market's bigger percentage losers early. There was no word on what inspired trading in the Redmond company.