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 Tech tumbles as broader market retreats over oil concern

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PostSubject: Tech tumbles as broader market retreats over oil concern   Tue Jul 29, 2008 8:25 am

"Technology stocks tumbled Monday as the broader market slipped on concern about climbing crude prices," Benjamin Pimentel reports for MarketWatch.

"The Nasdaq Composite Index lost 46.31 points, or 2%, to close at 2,264.2 points. The Morgan Stanley High Tech 35 Index also lost 2% while the Philadelphia Semiconductor Index fell 1.9%," Pimentel reports.

"The tech sector's biggest names were in negative territory," Pimentel reports. "Apple Inc. (AAPL: 154.40, -7.72, -4.8%) and Yahoo Inc. (YHOO: 20.12, -1.01, -4.8%) both lost 4.8%, Google Inc. (GOOG: 477.32, -14.66, -3.0%) was down 3% and Advanced Micro Devices Inc. (AMD: 4.19, -0.17, -3.9%) was behind 3.9%."
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