By Benjamin Pimentel
Technology stocks fell early Tuesday, giving back gains a day
after the Nasdaq Composite Index closed above the 2,000 mark for
the first time in almost a year, as semiconductor stocks led the
retreat.
Despite falling more than 5 points, the Nasdaq (RIXF) was still
above the 2,000-point level at 2,003 in early trading, while the
Morgan Stanley High Tech 35 Index (MSH) was behind 0.45% and the
Philadelphia Semiconductor Index (SOX) was off 0.7%.
The semiconductor sector was hardest hit, as shares of Intel
Corp. (INTC), Advanced Micro Devices (AMD) and Nvidia Corp. (NVDA)
traded down more than 1%.
Shares of other tech bellwethers also slid, including those of
Oracle Corp. (ORCL), Hewlett-Packard (HPQ) and Apple Inc.
(AAPL).
The broader market was also lower as the Dow Jones Industrial
Average (DJI) fell more than 15 points, as investors stepped on the
brakes ahead after a four-day winning streak.
The day also marks a continuation of the ongoing tech-earnings
season, with reports after the market close expected from video
game publisher Electronic Arts Inc. (ERTS) and business-software
company BMC Software Inc. (BMC).