Updated from 3:23 p.m. EST

Widely held tech stocks had their fair share of misery Monday as the Dow fell below 7,000 and Nasdaq fell 3.4% to 1,330.64.

Hewlett-Packard

(HPQ) - Get Report

announced Monday that its EDS unit had signed a 10-year, $1 billion contract with London-based insurance firm

Aviva

. Shares remained in the red nonetheless, with the stock price falling 3.3% to $28.07.

Research In Motion

(RIMM)

shares closed down 7.7% to $36.88. Fellow telco hardware maker

Nokia

(NOK) - Get Report

also took a beating, with shares down 6.6% to $8.74.

Shares of

Yahoo!

(YHOO)

fell 4.9% to $12.58, while its peer

Google

(GOOG) - Get Report

dropped 3.2% to $327.16.

Microsoft

(MSFT) - Get Report

, meanwhile, took a 2.2% hit at $15.79.

Elsewhere:

IBM was down 3.2% to $89.05.

Apple was down 1.5% to $87.94.

Garmin was down 5.4% to $16.19.

Dell -- recently upgraded from Hold to Buy at Argus -- spent most of the day in green but fell 1.2% into the close, landing at $8.43.

Palm, managed to end the day up 1.1% to $7.32.