I think it's just carry over from yesterday. People are still very nervous about what's happening in the technology sector with earnings warnings. There's clearly some buyers stepping in today.
I think the underlying sentiment has actually been relatively positive even though we've seen technology shares drop over the last week and drop significantly.
People just got very nervous about technology all of a sudden. After a rally earlier in the day, the Nasdaq just begun to drop.
It was a little choppy. It's the market trying to assess the good news we're getting out of the technology sector and, at the same time, reacting to the fact the economy is slowing.
So now we're getting not only the sell-off in technology but the sell-off in all the interest-sensitive stocks and every place else that people have been putting money.
Any nervousness about Cisco translates into Nortel and all other high quality technology stocks and into some of the smaller riskier ones as well.
There's a lot of strength in technology names that are high-quality companies, particularly those related to optical networking,
It was once again Nortel and BCE and in addition the cable companies, but again the technology and communication sector is really driving the market,
The fast-growing small technology companies basically ignored the Fed's warning of higher interest rates.
I'm surprised that technology has continued to be on a tear so strongly today because it's the rapidly growing stocks that will in fact be hurt if interest rates are increased.
I don't see this as an ongoing decline in technology shares, I do think it's a warning to people whose portfolios have become very overweight in technology that they might want to reconsider the risk in their portfolios, to use this as a head's up.
The market is concerned about the slowdown in growth in the technology sector so we're seeing all the tech stocks drop pretty significantly today, ... But there doesn't seem to be something that triggered this today.
I think the sentiment has not entirely shifted away from the belief that technology will continue to do well. But the believers are getting more and more worried about their beliefs.