New Week, Same Declines for Internets
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Investors hoping for Internet stocks to reverse their slides of last week Monday were sorely disappointed as the sector once again racked up heavy losses. Tuesday investors will turn their attention to the latest consumer price index numbers which will be issued shortly after the market opens.
At noon Eastern, internet.com's Internet Stock Index was off 14.34, or 2.73 percent, to 511.80, the Nasdaq Composite had fallen 55.70 to 2,676.13 and the Dow Jones industrial average had slumped 15.20 to 10,004.51 after briefly flirting with positive territory.
Other losers included Amazon.com Corp. (AMZN) off 3-13/16 to 71-1/4, Broadvision Inc. (BVSN) down 7-1/16 to 154-15/16, Broadcom Corp. (BRCM) falling 7-11/16 to 110-15/16, eToys Inc. (ETYS) was losing 4-7/8 to 65-11/16, Network Solutions Inc. (NSOL) falling 6-1/4 to 85-7/8, Priceline.com Inc. (PCLN) was off 5-1/16 to 62-1/2 and 24/7 Media Inc. (TFSM) down 5-9/16 to 35-1/16.
In the e-finance sector, E*Trade Group Inc. (EGRP) had fallen 1-3/8 to 23-11/16. The company Monday formed a joint venture with two German firms to target that European market. Ameritrade Holding Corp. (AMTD) was off 9/16 to 16-3/4. The company announced plans to begin offering its investors access to initial public offerings.
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