Late afternoon trading resulted in a further dip in stock prices, as the market tries to regain its footing after last Tuesday's attacks on the World Trade Center.
"A great deal of margin selling is going on, triggered by Monday's disastrous selloff," said Ralph Bloch, chief market analyst at Raymond James Associates. "Plus, the year has been a nightmare [for stocks], so there's a lot of early tax selling at work."
Some large companies in the Dow fell today, adding to the sense of instability in the market: Boeing Co., at $32.46 from $33.14; Honeywell International, at $26.20 from $28.51, and Viacom, owner of CBS, at $30.40 from $31.90.
Overall, the Dow dropped 144.27 points, to 8,759.13 from it's previous close of 8,903.4, and the Nasdaq Composite dropped 27.4 points to 1,527.69 from 1,555.08.
Among the stocks that most directly affect solution providers:
IBM was down to $96.27 from its closing price of $96.40 on Tuesday, on volume of 14.3 million shares traded. Its 52-week range is $80.06 to $126.69 on average daily volume of 6.86 million.
Cisco was down to $13.49 from its closing price of $13.57 on Tuesday, on 106.8 million shares traded. Its 52-week range is $13.19 to $63.63 on average daily volume of 56.3 million.
Intel was down to $22.28 from its closing price of $23.47 on Tuesday, on 83 million shares traded. Its 52-week range is $22.25 to $63.50 on average daily volume of 42.33 million.
Microsoft was down to $53.87 from its closing price of $54.32 on Tuesday, on 62.7 million shares traded. Its 52-week range is $40.25 to $76.15 on average daily volume of 30.29 million.
Sun Microsystems was down to $9.10 from its closing price of $9.18 on Tuesday, on 87 million shares traded. Its 52-week range is $9.10 to $61.94 on average daily volume of 39 million.
Compaq was down to $8.12 from its closing price of $8.52 on Tuesday, on 21.6 million shares traded. Its 52-week range is $8.12 to $31.63 on average daily volume of 10.69 million.
Hewlett-Packard was down to $15.41 from its closing price of $16.20 on Monday, on 17.9 million shares traded. Its 52-week range is $15.41 to $53.72 on average daily volume of 6.57 million.
EMC was down to $12.60 from its closing price of $12.90 on Tuesday, on 42.9 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 $36.50 from its closing price of $37.01 on Tuesday, on 1.5 million shares traded. Its 52-week range is $24.93 to $49.88 on average daily volume of 581,500.
Ingram Micro was down to $13.60 from its closing price of $13.84 on Tuesday, on 179,400 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
