Tech stocks couldn't escape the pain spreading throughout the market Monday as a result of
teetering toward bankruptcy and
agreeing to be bought out by
Bank of America
lost 43 points -- or 1.9% -- to 2218.
Hardest hit was video game maker
, whose stock nosedived 22% to $17.05 after a merger deal with
Electronic Arts pulled its $2 billion offer over the weekend after months of failed negotiations with Take-Two. Shares of Electronic Arts slipped 2% to $44.07.
shares also fell on Monday, down 6.3% to $14.70 after Cowen chopped its estimates for the company as a result of softening pricing for NAND flash memory.
The firm now expects SanDisk to lose 65 cents a share for the year instead of 38 cents as previously predicted. For next year, it expects a loss of 25 cents a share instead of a profit of 13 cents a share.
Research In Motion
tumbled 5.4% to $99.97 after Pacific Crest offered a bleak assessment of the company's sales. The firm sees September's numbers as slightly disappointing, despite a number of new product launches. August sales are also looking flat.
One of the few bright spots among tech stocks was
, which provides software and systems to car dealers. Shares climbed 3.1% to $18.60 after JMP Securities upgraded the stock to market outperform from market perform.