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Nasdaq hits 5,000 for the first time since 2000

Nasdaq hits 5,000 for the first time since 2000

The Nasdaq hit 5,000 again. Time to head for the hills, right? Maybe not this time. The technology-heavy Nasdaq composite index nudged through the symbolic point barrier for the first time since March 2000, shortly before what was known as the dot-com bubble burst in a dramatic collapse. The steady climb, to 5,008.10 on Monday, was far more gradual, and the underlying fundamentals much more sound than the first time around, analysts said. Amid the euphoria of the dot-com era when the Web was fairly new and the Internet promised boundless opportunity, stock prices became untethered from profits — even revenues — in the belief that the Internet would so transform the...

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