A warning from Gateway and an earnings miss by Alcoa sent stocks sprawling on Wednesday.
The U.S. dollar fell and gold surged after superstar bond manager Bill Gross said he favors a weak dollar to boost the economy.
The Nasdaq lost 30 to 1401, the S&P 500 fell 13 to 909, and the Dow lost 145 to 8595. Volume declined to 1.43 billion shares on the NYSE, and 1.46 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 20-11 on the Nasdaq. Downside volume was 73% on the NYSE, and 84% on the Nasdaq. New highs-new lows were 116-22 on the NYSE, and 60-36 on the Nasdaq.
After the close, Foundryraised guidance.
During the day, Gateway, off 6.6%, and Pomeroy Computer, down 25%, fell on warnings, while Radwareand Allen Telecomsurged 10-12% after raising guidance.
StorageNetworksfell 18% on news of a reorganization.
Ageregained 9% on a deal with Samsung.
EDSrose 1.2% after naming a new CFO and defending its accounting.
Appleslipped 2% as the company struck a deal with Microsoft. The Macworld conference took a lively turn with the return of co-founder Steve Wozniak.
Dell, off 1.2%, is offering DSL service.
Amazonslipped 2.5% on a company conference presentation.
Palm, down 1.8%, announced a deal with FreeMarkets, which lost 5.4%.
Intel, down 3.9%, is preparing a wireless chipset.
Cablevision, off 4.2%, will spend $2 million to promote its high-speed Internet service.
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