eBay Is Chief Punching Bag in Bruising Day for Net Stocks

SAN FRANCISCO -- If it wasn't a bloodbath in the Internet sector, it certainly has the makings of one.

Internet stocks were slammed into the ground, following the lead of one of the sector's bellwethers, eBay (EBAY Quote), which dropped precipitously after the site was down for close to 24 hours last week.

eBay Flip a coin between eBay and DoubleClick. Both contributed mightily to the sharp selloff in the Internet sector, but eBay wins out with a 30-point loss. eBay continued to see fallout after its site went down for nearly 22 hours last week and had more problems over the weekend. It finished down 29 7/8, or 18%, at 136.

Robert Dickey, director of technical research at Dain Rauscher Wessels, was calling for a couple of very ugly days at the beginning of the month and said this might be one of them. ...