The rout was on until the Dow came to the rescue. Internet stocks were in a full-blown selloff as traders scrambled to take profits before the Dow pushed toward a 200-point gain and back to the 10,000 mark, providing some stability.
TheStreet.com Internet Sector
index was down 71.30, or 5.54%, to 1202.82 in recent trading, though it had reached a low of 1188.61.
TheStreet.com New Tech 30 was down 44.64, or 5.56%, to 758.77.
, who is as tapped into the market as anyone, explains in an earlier
piece why he's staying away from the highfliers in the technology sector and buying more established tech names as the market tumbles.
B2B plays continued to get whacked as traders rushed to take profits on some of the sector's most popular plays.
was down 49 7/16, or 20%, to 199 1/2 after announcing it was buying
. It has now dropped around 35% since trading at a high of 324 7/8 on March 10.
Other big losers included
, down 14 3/4, or 5%, to 258, though it traded as low as 238.
, was down 34 3/16, or 13%, to 235 9/16;
was off 17 31/32, or 11%, to 152 1/64; and
Check Point Software
, down 28 1/2, or 12%, to 218 3/8.
One business-to-business stock that was actually trading higher was
up 14 11/16, or 12%, to 137. The enthusiasm may have been stemming from a
article that suggested PurchasePro would make a logical partner for a major Internet service provider like
Among the more traditional Internet names,
was down 22 5/16, or 10%, to 206 1/16. But it's worth pointing out that the stock nearly doubled from Feb. 23, when it was trading around 131, to March 13, when it traded as high as 255 5/8.
, which went from a low of 158 1/2 on March 13 to 219 Tuesday, was down 10 7/8, or 5%, to 195 1/4.
was getting much from the speculation that the two Net giants were in talks about a partnership or merger, in part because there have been some reports that a deal would not happen. Yahoo! was off 7 5/16, or 4%, to 161 7/16. eBay, which also today introduced its
eBay Business Exchange
targeting small businesses, was down 14 7/16, or 7%, to 196 9/16. eBay had gone from a low of 180 7/8 on March 13 to 224 1/2 yesterday.