The positive tone of early trade was short lived. Asparticipants put pressure on tech stocks, the Nasdaq drifted into negativeterritory. Selling therein quickly intensified so that the tech-rich Index soonled its counterparts lower. All three major averages now sit at session lows,although the Nasdaq's loss is double that of the Dow.
The tech sector, which is the largest by market weight, is leading losses. It is down 1.9 percent. Semiconductor stocks, down 3.4 percent,are especially weak. Defensive-oriented sectors telecom and utilities represent the only two sectors that are still in higher ground. Their gains currently stand at 0.1 percent and 0.5 percent, respectively.
52 Week Lows:
Atlantic Tele-Network (Nasdaq: ATNI) reached its 52 week low at $31, losing 5.08 percent. The stock is trading at $31.16, down 4.59 percent.
Dreamworks Animation (Nasdaq: DWA) lost 1.78 percent to reach its 52 week low of $26.45. DWA is trading down 1.47 percent at $26.54.
Fuel Systems Solutions (Nasdaq: FSYS) marked its 52 week low of $23.37, losing 3.98 percent. The shares of the company are trading at$23.38, low 3.94 percent.
Cisco Systems (NasdaqGS: CSCO) posted a loss of 2.01 percent to reach its new 52 week low of $18.03. CSCO is trading down 1.71 percent, at$18.08.
Barnes & Noble (NYSE: BKS) reached its new 52 week low of $11.37, losing 6.80 percent. The stock is trading low at $11.67, by 4.34percent.
