Down day on Wall Street - tech stocks drag down index

by Darren

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Stocks ended the day down, as bad news from tech companies. Semi-conductors, in particular, were hammered.

They were led by INTC, who is expected to bring in lower revenues this quarter. Microsoft also helped sour the mood on tech, when they were handed a $357 million fine by the EU. These events conspired to bring down the mood of investors, who are already flagging based on a variety of economic issues.

It looks like some serious earning companies are needed to save the market’s bacon. People are getting tired of these missed quarters. I shudder to think what will happen to GOOG in the event of a miss. Add to this the strange news from AOL this week, and you get the picture that the tech stocks may stay moribund for the forseeable future.

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