US-based technology giants took another beating on Monday on the sharemarket, as the bloodbath on Wall Street continued.
The Dow Jones Industrial average was down more than 700 points in mid-day trading, off more than 7 per cent. The Nasdaq, meanwhile, was trading down more than 8 per cent and had dropped below 1,800 points. The CNET Tech Index, published by ZDNet.com.au's sister site CNET.com, was trading at 1,234.85, down 96.11, or more than 7 per cent.
Several major indexes, including the Dow and Nasdaq, were trading at multi-year lows. The CNET Tech Index was at its lowest point since 2006.
SAP, which warned on Monday that its third quarter sales fell below estimates as business spending on software dropped, saw its shares off more than 15 per cent, changing hands recently at US$38.59, down US$7.06.
AMD, Palm, and RIM were all down double digit percentages, while Google, Intel, Microsoft, and most other big-name tech stocks were all down greater than 5 per cent for the day.
Yahoo shareholders have a reason to resent management that rejected Microsoft's US$33-per-share offer. Yahoo shares were trading Monday at US$14.72, down US$1.28 or 8 per cent.
