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The Nasdaq Composite was down 1.92% yesterday while the S&P 500 was down just 0.06%. The spread between the two indices was the biggest on a Nasdaq down day since January 17, 2003. As shown, the Nasdaq consistently underperformed during the bursting of the Internet bubble. Until yesterday, the two indices had been moving pretty closely together throughout the current bull market.

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Source: Thursday's Nasdaq/S&P 500 Spread Widest Since '03