After sinking below the 10,000 mark two days in a row only to bob back before the closing bell, the Dow Jones industrial average finally went down for the count Friday.
Down to 9962.22, the Dow was off 178 points, or 1.75 percent for the week, and is off 4.7 percent so far this year. It was the fifth weekly loss in a row.
For long-term, buy-and-hold investors, however, the more significant statistic is that the Dow is back to where it was before it initially broke the 10,000 mark on its way up in 1999. In five years, Wall Street's 30 most-watched stocks have gone nowhere.
The Nasdaq Stock Market composite index and the Standard & Poor's 500-stock index fell in parallel. The S&P lost 15 points, or 1.4 percent, and at 1086.20 is off 2.3 percent year to date. The Nasdaq composite fell 34 points -- 1.8 percent -- leaving if off 7.7 percent for the year at 1849.09.
The bottom line: Too many companies are coming up slightly short of expectations on second-quarter earnings and cautioning that the rest of the year doesn't look any better.
-- Jerry Knight