<html><base href="http://biz.yahoo.com/"><title>Yahoo - Dow, Nasdaq wipe out gains for year as stocks fall</title><center><table cellpadding=2 cellspacing=0 width="100%"><tr><td width="1%"><a href="http://quote.yahoo.com/?u"><img src="http://us.yimg.com/i/fi/main4.gif" border=0 width=281 height=31 alt="Yahoo! Finance"></a></td><td nowrap><font face=arial size=-1><a href="http://quote.yahoo.com/?u">Home</a> - <a href="http://www.yahoo.com/">Yahoo!</a> - <a href="/f/bn.html">Help</a></font><br><hr size=0 noshade></td><td width="1%"><a href="http://www.online.reuters.com"><img src="http://us.yimg.com/i/dn/reuters4.gif" border=0 alt=Reuters width=140 height=21></a></td></tr></table><p><table border=0 bgcolor="#000000" width=468 cellspacing=1 cellpadding=0><tr><td width="100%"><table bgcolor="#aaccff" border=0 width=468 cellspacing=1 cellpadding=5><tr><td width="100%" align=center valign=middle><a href="http://www.yahoo.com/M=B566.156190.1346683.6102/D=finance/S=7811756:N/A=60163/R=0/?http://pager.yahoo.com/pager/"><b>Yahoo! Pager</b></a> - buddy lists, instant messaging, email notification </td></tr></table></td></tr></table><p>[ <a href="http://www.yahoo.com/headlines/business/">Business</a> | <a href="/reports/stocks.html">US Market</a> | <a href="/industry/">By Industry</a> | <a href="/reports/ipo.html">IPO</a> | <a href="/apf/">AP</a> | <a href="/snp/">S&P</a> | <a href="/reports/world.html">International</a> | <a href="/prnews/">PRNews</a> | <a href="/bw/">BizWire</a> ]</center><p><hr><table align=right border=2 cellpadding=2 cellspacing=0 hspace=5 vspace=5 bgcolor="#dcdcdc"><tr><td valign=top align=center width=180><a href="http://www.yahoo.com/M=16538.151686.1325366/D=finance/S=7811756:E/A=92806/?http://www.etrade.com/yahoo-index.html" target="_top"><img width=170 height=35 src="http://us.yimg.com/a/et/etrade/etrd8bg5.gif" alt="IPO's now available on the new E*Trade (R). Click Here." border=0></a><table border=0 cellspacing=0 width="100%"><tr><td colspan=4 width="100%"><table border=0 cellpadding=2 cellspacing=0 width="100%"><tr><td width="100%"><a href="http://quote.yahoo.com/q?s=%5edji+%5eixic+%5espx+%5eiix+%5epse+&d=v1&format=snlcvi"><b><font face=arial>Related Quotes</font></b></a></td><td align=right></td></tr></table></td></tr><tr><td valign=top width="40%"><nobr><small><a href="http://quote.yahoo.com/q?s=^DJI&d=t">^DJI</a><br><a href="http://quote.yahoo.com/q?s=^IXIC&d=t">^IXIC</a><br><a href="http://quote.yahoo.com/q?s=^SPX&d=t">^SPX</a><br><a href="http://quote.yahoo.com/q?s=^IIX&d=t">^IIX</a><br><a href="http://quote.yahoo.com/q?s=^PSE&d=t">^PSE</a><br></small></nobr></td><td align=right valign=top width="30%"><nobr><small>7913.16<br>1565.36<br>1002.71<br>322.19<br>292.64<br></small></nobr></td><td align=right valign=top width="30%"><nobr><small><font color="#ff0020">-138.52</font><br><font color="#ff0020">-74.32</font><br><font color="#ff0020">-24.43</font><br><font color="#ff0020">-27.93</font><br><font color="#ff0020">-14.72</font><br></small></nobr></td></tr><tr><td colspan=4><small>delayed 20 mins - <a href="http://my.yahoo.com/fin_disclaimer.html">disclaimer</a></small></td></tr></table></table><b>Monday August 31, 12:09 pm <small>Eastern Time</small></b><h2>Dow, Nasdaq wipe out gains for year as stocks fall</h2>  NEW YORK, Aug 31 (Reuters) - U.S. stocks fell further near midday Monday, with key indices wiping out all their gains for the year.<p>At 1146 EDT/1346 GMT, the Dow Jones Industrial Average had fallen 160 points to 7891, moving below the 7908 level where it began 1998.<p>Earlier in the morning, the Dow dropped below 8,000 for the first time since early February, breaking a level that analysts said carries important weight in the pysche of investors.<p>``Investors have seemed to remain complacent above 8,000, but we're watching to see if a move below causes changes like more mutual fund redemptions,'' Gail Dudack, chief investment strategist at UBS Securities, said Friday as the Dow flirted with 8,000.<p>Technology stocks that had been flying high this year also dragged down the Nasdaq Composite Index below where it began the year.<p>At 1158 EDT/1558 GMT, the Nasdaq was off 70 points at 1570, where it had began the year.<p>The S&P 500 Index, though, was still ahead for the year. At midday, the S&P was off 23 points at 1004. The index began 1998 at 970.  <p><hr align=left width="33%" noshade><table border=0 cellpadding=0><tr valign=top><td colspan=3><b>Related News Categories:</b> <a href="/reports/stocks.html">US Market News</a></td></tr></table><hr align=left width="33%" noshade><center><form method=get action="http://search.news.yahoo.com/search/news"><input size=24 name=p> <input type=submit value="Search News"><input type=hidden name=n value=10> <a href="http://www.yahoo.com/docs/info/news_search_help.html"><small>Help</small></a></form><hr><small>Copyright © 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon<br>See our <a href="http://www.yahoo.com/docs/info/gen_disclaimer.html">Important Disclaimers and Legal Information</a>.<br><a href="/f/bn.html">Questions or Comments?</a></small></center>  </html>