Last-Day Loss Ends Nasdaq Streak

Records were made to be broken--even on Wall Street.

In its 29-year history, the Nasdaq composite index had never suffered a loss on the final trading day of the year. Until Friday.

In a fitting coda to a miserable 2000, the technology-dominated Nasdaq fell 87.24 points, or 3.4%, to close at 2,470.52.

Even in its two previous years of 30%-plus losses--1973 and 1974--the index managed a gain on the final trading day.

Analysts noted that investors could sell losing stocks to record losses for 2000 tax purposes as late as the close of trading Friday, and some apparently did: Nasdaq ended near its low for the day as selling accelerated in the final hour.

Among the losers Friday were such already beaten-down tech shares as Intel, down 88 cents to $30.06; Yahoo, off 94 cents to $30.06; Broadcom, down $9.13 to $84; Globespan, down $6 to $27; Inktomi, down $2.19 to $17.88; and Qualcomm, down $7.19 to $82.19.