Huffpost Business

Apple Led Monday's Tech Tumble

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While much attention on Sept. 29 was fixed on the failed bailout vote in Congress and its impact on the Dow Jones industrial average, tech stocks also came under pressure.

The technology-heavy Nasdaq dropped 199.61 points, or 9%, to 1983.73, the third-largest percentage decline ever. The Sept. 29 tech-stock rout was eclipsed only by the Black Monday crash on Oct. 19, 1987, when the Nasdaq plummeted more than 11%, and Apr. 14, 2000, when it tumbled 9.7%.

Among tech stocks, the most notable loser was computer and consumer electronics maker Apple (AAPL), the subject of at least two analyst downgrades. Apple fell 22.98, or more than 17%, to 105.26, the company's fifth-biggest decline in percentage terms. The rout came eight years to the day after Apple's biggest-ever one-day percentage decline--on Sept. 29, 2000, it lost more than half its value.

Read the whole story at BusinessWeek