While the

Nasdaq

has been beaten up this week, in typical fashion it roared back today.

The Nasdaq closed up 114.71, or 2.6%, at 4572.60, ending the week down around 390 points.

TheStreet.com Internet Sector

index, or DOT, closed up 11.73, or 1.1%, at 1107.07, though it traded as low as 1044.36.

TheStreet.com New Tech 30 was down 2.39, or 0.3%, at 715.29.

A technician would tell you that the Nasdaq recovered after being able to hold above yesterday's low of 4355.69. It reached a low of 4381.38 around 11:15 a.m. EST, then began to climb higher around noon, ending in a flourish. And much of the early weakness in the sector was triggered by losses in the business-to-business sector following downgrades of three B2B stocks, which ended up dragging down other B2B plays.

Prudential Securities

downgraded

Commerce One

(CMRC)

,

Ariba

(ARBA)

and

i2 Technologies

(ITWO)

to accumulate from strong buy on concerns of a deterioration in commanding transaction-based revenue sharing.

Joe Bousquin

took an in-depth look at the downgrades in a recent

story.

When the dust had settled Commerce One closed down 24 1/16, or 14%, at 149 1/4 after trading as low as 135 1/2. Ariba ended down 10 3/8, or 5%, at 209 5/8, though that was after it traded as low as 177 15/16. And i2 finished down 6 7/8, or 5%, at 122 1/8, recovering from a low of 98. Among other

B2B plays,

PurchasePro

(PPRO)

closed down 17, or 19%, at 72 1/2;

Kana Communications

(KANA)

dropped 18, or 21%, to 68; and

FreeMarkets

(FMKT)

tumbled 14, or 10%, to 121.

The DOT was held back by a huge drop in

eBay

(EBAY) - Get Report

, which finished down 31, or 15%, at 176 on

news that Federal investigators are examining the online auctioneer's handling of possible illegal transactions, while a separate antitrust probe targets the company's efforts to license auction search engines. The auction house also received a subpoena from the

Justice Department

related to its

Butterfield & Butterfield

unit. Note, however, that the stock has run up sharply the past few weeks on rumors of a partnership with

Yahoo!

(YHOO)