Stocks fell sharply by midday as investors grappled with their uncertainty of what the future would bring after last week's attacks on the United States and the prior fear of a recession.
"I think the market right now is seized by fear rather than rationality," says Stanley Nabi, managing director at Credit Suisse Asset Management, who regards the sell-off as overdone and is confident of an economic recovery next year. "I was bearish until a few days ago and now I am very clearly bullish. Rationality dictates this is the time to step in and buy."
Here are 10 stocks that affect resellers:
IBM was up to $93.78 from its closing price of $96.40 on Tuesday, on 5.4 million shares traded. Its 52-week range is $80.06 to $126.69 on average daily volume of 6.86 million.
Cisco was up to $13.02 from its closing price of $13.57 on Tuesday, on 45.2 million shares traded. Its 52-week range is $13.19 to $63.63 on average daily volume of 56.3 million.
Intel was up to $21.98 from its closing price of $23.47 on Tuesday, on 35 million shares traded. Its 52-week range is $22.25 to $63.50 on average daily volume of 42.33 million.
Microsoft was up to $52.11 from its closing price of $54.32 on Tuesday, on 25 million shares traded. Its 52-week range is $40.25 to $76.15 on average daily volume of 30.29 million.
Sun Microsystems was up to $8.54 from its closing price of $9.18 on Tuesday, on 37.7 million shares traded. Its 52-week range is $10.06 to $61.94 on average daily volume of 39 million.
Compaq was down to $8.20 from its closing price of $8.52 on Tuesday, on 9 million shares traded. Its 52-week range is $9.95 to $31.63 on average daily volume of 10.69 million.
Hewlett-Packard was up to $15.35 from its closing price of $16.20 on Tuesday, on 6.8 million shares traded. Its 52-week range is $15.5 to $53.72 on average daily volume of 6.57 million.
EMC was down to $12.31 from its closing price of $12.90 on Tuesday, on 18.8 million shares traded. Its 52-week range is $12.60 to $104.94 on average daily volume of 16.94 million.
Tech Data was down to $36.12 from its closing price of $37.01 on Tuesday, on 635,300 shares traded. Its 52-week range is $24.93 to $49.88 on average daily volume of 581,500.
Ingram Micro was down to $13.70 from its closing price of $13.84 on Tuesday, on 113,100 shares traded. Its 52-week range is $10.19 to $18.38 on average daily volume of 236,045.
Additional reporting for this story is from Reuters
