Two Markets Diverge -- Dow Surges, Nasdaq Crumbles

And this is only Monday.

Investors seized on the Nasdaq Composite Index's early Microsoft (MSFT Quote)-led negativity with a vengeance, burying the tech-heavy Nasdaq under a loss of 349.15, or 7.6%, to 4223.68 -- the worst point loss and fifth-worst percentage loss in history. They threw their money into the resurgent Dow Jones Industrial Average, which rose 300.01, or 2.8%, to 11,221.93.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 300.01 2.75% 11,221.93 -2.4% S&P 500 7.39 0.49% 1505.97 +2.4% Nasdaq -349.09 -7.63% 4223.74 +3.8% Russell 2000 -23.01 -4.27% 516.08 +2.2% TSC Internet -108.66 -9.82% 998.41 -13.5% TSC New Tech 30 -102.68 -13.87% 637.72 +3.2% NOTE CHANGE PRICE YIELD 10-Year Treasury 10/32 103 31/32 5.961%

The Dow's startling gain, its sixth-largest point rise ever, in the face of widespread tech panic demonstrates investors' faith in the market's resilience. ...