TECH STOCKS: A Peak In The Mirror?

No less a personage than Warren Buffett is telling his shareholders that stocks are generally overvalued. Elsewhere, pundits are again wondering just how enthusiastically companies are investing in new business technology and people. And investors themselves are starting to feel chip-market whiplash (happy days are here again/the canary is passing out in the IT mine). Suddenly, optimism about the second half of the year is passé.

All of which is to say that our indexes took a powder Monday. The Nasdaq chinned the canvas hardest. It fell 1.9%, or 38.85 points, to 2,008.78. Our InformationWeek 100 fell 1.7%, or 5.62 points, to rest at 327.73. Next up was the S&P 500, which some seem to believe will end 2004 lower than it started. It fell 0.8%, or 9.66 points, to 1,147.2. And the Dow fell 0.6%, or 66.07 points, to rest at 10,529.48.

Those hoping that the more-diversified Nasdaq didn't represent appetites for tech shares will be disappointed to learn that the Nasdaq-100 tracking stock fell 1.6%, or 86 cents, to $35.77, on very heavy volume of 112 million shares.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.