[newzhunter]

The Dow Jones Industrial Average fell more than 500 points, or 4.4 percent, the Nasdaq Composite Index decreased 3.6 percent, and the S & P 500 Index tumbled almost 5 percent. The Philadelphia Semiconductor Index also fared poorly sinking 3.2 percent to close at 311.76, a new one-year low.

Few tech companies were spared. IBM Corp. sank more than 3 percent, Nvidia decreased 4 percent as rivals AMD and Intel fell 10 and 9 percents, respectively.

Texas Instruments was one of the luckier companies, posting a drop of just one percent while Broadcom, Infineon, Intersil and National Semiconductor all sank approximately 4 percent each.

A bloodbath occurred on Wall Street Monday and its effect is reverberating around the globe. For technology companies, the widening financial mess could result in greater difficulties securing financing for acquisitions and tighter lending conditions for basic corporate operational mechanisms such as line of credit.

Most high-tech companies were clobbered on a day all the arrows indicating equity performance pointed downward.

http://www.eetimes.com/news/semi/sho...0601766&pgno=2

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[Brandon1987]

Wah....


AMD and Nvidia kana hit deep...

AMD... money is in red liao... kana hit by this. Superbly bad.....

Nvidia, kana sue left, front up and down. Consumer avoid them like plague..... kana this..... OMG

[ORiN]

Originally Posted by Brandon1987

Wah....


AMD and Nvidia kana hit deep...

AMD... money is in red liao... kana hit by this. Superbly bad.....

Nvidia, kana sue left, front up and down. Consumer avoid them like plague..... kana this..... OMG

The market is in a downturn so it affects every companies left and right. There will be tighter conditions to loaning but interest rates will be lower too. The banks themselves are to blame for this entire mess for issuing loans to people who can't pay.

[CUEBALL]

But the bank shouldnt let so many people to take up sub prime rate ma..

[Kisuke]

US banks partly has fault for it own downfall?

[Bonn]

Greed as caused all these shit. Now the americans really shot themselves on their foot. I guess no better days to come since a major crisis is just at the corner.

[kyouta]

we juz pray pray our jobs will hold haha

[jackdowsan]

lol...so what will happen to the tech stuff in US, will it get cheaper ?

[Paul_Yeo]

better, save save save now. And stop buy buy buy.

[Brandon1987]

Hmmm.. we also need to keep the economy running by spending. Economy works in circle. If everyone decided to save only, the economy will stall, that is even worse. Instead, spend 2/3, save 1/3. At least the economy is still running with companies profits going in.

Then workers get their salary, maybe pay rise if the profit is high enough...

[saaya]

isnt it weird how nvidia only lost 4% while intel and amd lost 10%?

[windtreader]

chartered retrenching liao! ( or at least what i heard from my boss)

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