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Dow down 93; broader market rises.

Knight Ridder/Tribune News Service

| December 31, 1998 | Dueck, Cameron | COPYRIGHT 1999 Knight-Ridder/Tribune News Service. (Hide copyright information)Copyright

NEW YORK _ The Dow Jones industrial average closed Thursday down 93.21, or 1.0 percent, at 9181.43 on the last day of the year while the broader market made gains, pushing the NASDAQ Composite index to a new high.

Traders said active profit-taking in some of the hottest blue-chips forced the Dow down while the NASDAQ ended up 25.60, or 1.2 percent at 2192.55 as technology stocks made modest gains. The biggest gainers on the day were small-cap stocks, with the Russell 2000 ending up 10.07, or 2.4 percent at 421.98.

The S&P 500 ended down 1.51, or 0.1 percent 1230.42.

The NASDAQ led in performance for the year, reflecting the rise in interest in technology, and particularly in Internet stocks. The …

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