Stocks tumbled amid widespread selling of stocks and commodities on escalated fears about the global economy. Hewlett-Packard led a broad-based selloff in tech stocks after a report surfaced that Meg Whitman, the former eBay chief, was expected to be named chief executive of the co. after the closing bell. H-P was down 5.4%. The top decliners for the day included Dell, Cisco, Microsoft, Google, Advanced Micro Devices, Nvidia and Salesforce. Yahoo was off by down 1.7% after an earlier gain following the upgrade to buy from hold by Stifel Nicolaus. Apple gave up 3% after reports saying Apple will have an event in early October to introduce the next version of the iPhone. Implied volatility spiked to the 37 level on huge trading volumes. Any reading above 30 signals investor worry.
Friday, September 23, 2011
Tumbled on fears about the global economy
Stocks tumbled amid widespread selling of stocks and commodities on escalated fears about the global economy. Hewlett-Packard led a broad-based selloff in tech stocks after a report surfaced that Meg Whitman, the former eBay chief, was expected to be named chief executive of the co. after the closing bell. H-P was down 5.4%. The top decliners for the day included Dell, Cisco, Microsoft, Google, Advanced Micro Devices, Nvidia and Salesforce. Yahoo was off by down 1.7% after an earlier gain following the upgrade to buy from hold by Stifel Nicolaus. Apple gave up 3% after reports saying Apple will have an event in early October to introduce the next version of the iPhone. Implied volatility spiked to the 37 level on huge trading volumes. Any reading above 30 signals investor worry.
