informa
/
2 min read
article

TECH STOCKS: The Slide Continues

The markets fell again despite some favorable economic reports.
Not even favorable economic reports could boost spirits on Wall Street as the momentum of three consecutive days in the red, coupled with al-Qaida claiming responsibility for the deadly explosions that killed nearly 200 train passengers and wounded 1,200 others in Madrid, Spain, was too much to overcome. All of the major indexes fell more than a full percentage point as investors remained sour.

The fourth straight day of losses hit the Dow hardest, but the tech-laden Nasdaq retained the biggest decline for the week, down 5.1% from last Friday's closing. Investors barely noticed the better-than-expected report on initial unemployment claims, as well as retail sales that met expectations. The slump spared few tech issues, as Intel, Microsoft, Oracle, Siebel Systems, Qualcomm, and Apple all fell at least 0.8%. A few managed to defy the day's events: Cisco Systems rose 13 cents, or 0.6%, to $22.34; Dell rose 74 cents, or 2.3%, to $32.38; and Juniper Networks rose 33 cents, or 1.4%, to $24.61. The Nasdaq-100 tracking stock fell 28 cents, or 0.8%, to $34.91, on heavy volume of 148.9 million shares

The Dow Jones industrials fell 168.51 points, or 1.6%, to close at 10,128.38, and the S&P 500 wasn't far behind, falling 17.10 points, or 1.5%, to finish at 1,106.79. The InformationWeek 100 fell 4.07 points, or 1.3%, to 313.65, and the Nasdaq fell 20.26 points, or 1.03%, to 1,943.89.

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.