Technology stocks retreated Friday, pushed down by disappointing results from Microsoft and a sharp drop by several chip stocks and PC makers, along with a broad-based selloff. Even Apple felt the pinch, losing 3.6% to close at $609.84 to hit its lowest closing price since early August. The market is likely to take its cues from quarterly reports as earnings take center stage, with a slew of major companies reporting results this week. Companies announcing results on Monday include Caterpillar, Yahoo and Freeport McMoRan Copper & Gold. Implied volatility jumped as bearish sentiment prevailed.
