Tech stocks take a beating as Nasdaq falls

Remember, the value of your investment can rise as well as fall, honest

Woken up with a hangover this morning? You’re not alone - anyone with shares in IT companies is likely to be suffering from a pounding head, a queasy stomach and a strange hollow feeling in their bank account. Yesterday was a bad day for IT stocks in the US, according to Computer Reseller News (CRN), the US channel mag that has just been bought by United Media, along with its stable-mates. While the Dow Jones rose 32.9 points, Nasdaq fell by 21.3 to close at 2,529.1, the online report said. This is bad news for many IT stocks. Out of a whole unholy host of big hitters from the IT industry, IBM was one of the few to buck the trend. Strange but true. CRN’s list of slippery stocks goes like this: Microsoft - down 3/16 to 81 15/16; Cisco - down 2 1/2 to 109 1/4; Intel - down 5/16 at 60 7/8; Dell - down 9/16 to 41 1/16; Hewlett Packard - down 1 1/16 to 78 1/4; Compaq down 13/16 to 22 7/8. In the channel, Ingram Micro slipped 1/4 to 25 15/16, but CHS held steady at 5 1/4. ®

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