Nasdaq slips slightly on tax-sales, profit-taking
NEW YORK, Dec 17 (Reuters) - Nasdaq stocks closed slightly lower Wednesday as investors took year-end profits and sold
underperforming issues for tax purposes.
The Nasdaq Composite Index unofficially closed down 5.64 points -- or 0.36 percent -- at 1547.36 on unofficial volume of 760,163,281
shares. Advancing issues edged declining issues 2,255 vs 2,237, with 1,104 issues unchanged.
''It was hardly a change in this volatile market, we didn't see anything dramatic,'' one trader said. ''It was just all profit-taking in the
end ... and we're definitely still seeing tax-selling.''
Another trader said, ''It looks like a lot of the carnage is over, we hope, in some of the small tech stocks. We're seeing some
buying.'' He added, however, ''I think (going forward) it will be a choppy market.''
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