This Day In Market History: Microsoft, Intel Become First Nasdaq Stocks To Join The Dow

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened: On Nov. 1, 1999, Microsoft Corporation MSFT and Intel Corporation INTC were added to the Dow Jones Industrial Average.

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 GT, Sears Holdings Corp SHLDQ, Chevron Corporation CVX and Union Carbide from the index. In addition to Microsoft and Intel, new members Home Depot Inc HD and SBC Communications, now AT&T Inc. 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.