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Cisco, Netflix Lead Techs Lower

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Preston Waters

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

Preston Waters

Preston Waters

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