Cisco, Netflix Lead Techs Lower

Market News • Preston Waters • Dec 28, 11:28am

Cisco, Netflix Lead Techs Lower

Technology stocks slipped early Wednesday, led by slumping shares of Cisco Systems Inc. and Netflix Inc.

Cisco CSCO -2.02% fell 1.7% to $18.26, one of the top decliners within the Dow Jones Industrial Average DJIA -0.79% , which lost more than 80 points at last check.

Shares of Netflix NFLX -2.62% sank more than 2% to $69.

The Nasdaq Composite Index COMP -0.93% retreated nearly 1% to 2,601. The Morgan Stanley High Tech 35 Index MSH -1.08% was also down 1%, while the Philadelphia Semiconductor Index SOX -1.15% was off 1.1%.

Major chip shares traded broadly in the red, including Advanced Micro Devices AMD -1.99% , off 1.5%; Texas Instruments TXN -1.28% , down 1.3%; and Nvidia Corp.NVDA -1.71% , off 1.2%.

Hardware companies also saw their shares sink, including Hewlett-Packard HPQ -1.31% , Dell Inc. DELL -1.28% and Apple Inc. AAPL -0.34% .

In the software sector, shares of Oracle Corp. ORCL -0.59% moved down 1%, while Microsoft Corp. MSFT -0.19% traded down a fraction.

On the upside, shares of Google Inc. GOOG +0.30% managed a modest gain.

Benjamin Pimentel | Associated Press

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