Stocks buckled yesterday, with the Nasdaq market turning negative again for the year as investors fixated on the outlook for technology companies instead of the sector's strong earnings for the last quarter.
Personal computer makers helped drag the Nasdaq composite index down nearly 3 per cent after a report that growth in personal computer unit shipments slowed in the second quarter to half of the pace in the year ago period.
The Nasdaq composite index ended down 113.31 points, or 2.77 per cent, at 3,981.14. The blue-chip Dow Jones industrial average, meanwhile, gave up 48.79 points, or 0.45 per cent, at 10,684.77, weighed down by its technology components. The Dow is now off 7.06 for the year.
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