Nasdaq Drops 3 Percent on Warning of Low Profits at Two Tech Companies. (30-MAY-01) Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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Nasdaq Drops 3 Percent on Warning of Low Profits at Two Tech Companies.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 30-MAY-01

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Byline: Judith Schoolman

May 30--The Nasdaq tumbled more than 3 percent yesterday after an influential Goldman Sachs analyst warned that slow economic growth would hobble profits at two tech giants.

But encouraging reports on improving consumer confidence and growing personal spending gave investors the impetus to focus on old economy stocks, sending the Dow Jones industrial average modestly higher.

"You can approach this market two ways -- the...

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