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13th April 2009, 08:05 AM
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Tech stocks fall on general market fears
SAN FRANCISCO (MarketWatch) - Technology stocks fell in early trading Monday as fears of a possible bankruptcy at General Motors pushed the broad market lower. The Dow Jones Industrial Average was off nearly 80 points after the opening bell. The Nasdaq Composite Index fell 0.8% to 1,639 while the Morgan Stanley High Tech 35 Index was down 1.2%. Seagate Technology predicted better-than-expected revenue for the current quarter but also suspended its dividend and announced plans for further cost cutting. Seagate's shares were down more than 8% after the opening bell.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. More...
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