Nasdaq continues its heady fall

The Nasdaq composite index plunged 147.34 points (3.8 per cent) last night to 3,730.00 points at the closing bell.

The tech-heavy Nasdaq has lost 9.7 per cent in the past three days, just shy of the 10-per cent drop that is officially termed a correction.

However, the Dow Jones Industrial Average was up 129.06 points (1.16 per cent) to 11,251.71 points.

Despite the continued pummelling of technology and telecom shares worldwide, the Irish stock market managed to clamber back into positive territory by the close.

Dealers said trading was mainly concentrated in the leading stocks although early buying interest in the two main banks fizzled out later in the afternoon to leave the ISEQ index just marginally ahead at the end of the day.