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blackfriday hat recht,erst Abby Cohen,jetzt Mark Möbius von Templeton.Hier Kommentear von CBS Marketwatch: The downward move in technology hit many of the market's leaders such as Cisco Systems, Sun Microsystems and Oracle, which exacerbated the selling in many of the second-tier tech names.
"Over the past couple of sessions, the big names have been going down and they were the ones leading the market," remarked Barry Hyman, chief market strategist at Ehrenkrantz King Nussbaum. "We're giving back tremendous value [and] the pullback is disturbing," he added. Still, he doesn't believe the rout will last long.
"Technology investors tend to go from total euphoria to blind panic," said David Powers, senior technology analyst at Edward Jones.
Inside the market, all sectors in the tech arena were dripping in red ink, led by computer software, chip and Internet stocks. Oil service shares gained ground as did retail, drug, utility and paper stocks. Biotech, brokerage and bank shares dropped.
The Dow Industrials gained 68 points, or 0.6 percent, to 11,006 at 2:56 p.m., led by shares of Wal-Mart, Home Depot, Coca-Cola, McDonald's and Merck. Downside leaders were Hewlett-Packard, General Motors and AT&T.
The Nasdaq Composite dropped 137 points, or 2.8 percent, to 4,696. (See 1-year chart of Dow and Nasdaq.)
"People are using excuses to take profits," said Peter Boockvar, equity strategist at Miller, Tabak & Co. The pace of the recent gains in the tech sector was unsustainable," he said.
On Tuesday, unloading of tech shares was sparked by Goldman Sachs' Abby Joseph Cohen's decision to reduce equity allocations in her model portfolio by 5 percent.
Wednesday, negative comments directed at the Internet sector from Mark Mobius, head of the Templeton Emerging Markets Group, didn't help matters. He warned that the time may be ripe for Internets to correct by 50 to 90 percent.