Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
Where The Market Was
The Dow Jones Industrial Average traded at 10,648.51, and the S&P 500 finished the day at 1,354.12.
What Else Was Going On In The World?
In 1999, Jack Kervorkian was convicted of second-degree murder for the assisted suicide of patient Thomas Youk. A shooting spree at Columbine High School resulted in the death of 13 students. The average price of a new house was $131,750.
Nasdaq Invades The Dow
As part of a major shake-up of the Dow Jones during the tech boom of the late 1990s, the index added Microsoft and Intel. At the time, the two stocks made history as the first-ever Nasdaq-listed stocks included in the century-old index.
To make room for the tech invasion, the Dow booted Goodyear Tire & Rubber Co (NASDAQ: GT), Sears Holdings Corp (OTC: SHLDQ), Chevron Corporation (NYSE: CVX) and Union Carbide from the index. In addition to Microsoft and Intel, new members Home Depot Inc (NYSE: HD) and SBC Communications, now AT&T Inc. (NYSE: T), were added to the index.
Microsoft and Intel remain Dow components to this day, and both companies are among the largest U.S. tech stocks by market cap.
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