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Mar. 5--DOW DOMINATES EVEN THE BROADER INDEXES: Nearly 110 years have passed since Charles Dow and Edward Jones created an index to measure the broad movements of the stock market.
Today, the brainchild that began modestly and was circulated to a few thousand people in New York is the most widely quoted financial thermometer in the world. When the Dow Jones industrial average climbed above 4,000 on Feb. 9, it was front-page news and a major story on many a television and radio newscast.
It's a bit baffling why the modern version of that index remains so dominant. Numerous broader-market measuring devices have been developed, each more comprehensive than the …