Nasdaq takes yet another tumble

Denver — After a brief respite, the Dow Jones industrial average continued its downward spiral during the report period ended April 3, tumbling 461.83 points, or 4.6%, to 9485.71. Meanwhile, the Nasdaq plummeted 15% to its lowest level in 18 months.

Spot gold on the Comex division of the New York Mercantile Exchange also fell, to US$256.80, sending many mining issues down. South Africa’s AngloGold was off 71 to US$14.25, while Ghana’s Ashanti Goldfields dropped 20 to US$2.05. New York-listed Homestake Mining sunk 55 to US$5.09, though Newmont Mining picked up 41 to close at US$16.46. Also bucking the trend was Meridian Gold, which climbed 39 to US$6.70, and Glamis Gold, which added 13 to close at US$2.

Comex copper sunk to 76 per lb., sending Phelps Dodge down $1.38 to 39.87. Class A and B shares of Freeport-McMoRan Copper & Gold slipped 56 and 52, respectively, to close at US$11.28 and US$12.49. Southern Peru Copper dropped 39 to US$13.60, while BHP lost 50 to close at US$19.40. Anglo American plunged $8.69 to close at US$52.81, sending De Beers Consolidated Mines off $4.50 to US$35.88. Rio Tinto pulled back $2.11 to close at US$67.49. Falling silver sent Apex Silver Mines down 46 to US$7.44, while platinum-miner Stillwater Mining plunged $3.07 to US$24.

Among juniors, Silverado Gold Mines topped the active list, jumping 200% to US60, up 40, on the Nasdaq. The company is developing new fuel cell technology. Crown Resources plunged 21 to close at US17 after posting a loss for the year.