The Dow Jones Industrial Average slid well into negative territory after bouncing around over the break-even line most of the day. It ended off 39 to 10,808.

The

Nasdaq followed the Dow's lead after making some earlier gains and was off 63 to 3741.

Earlier today, it had looked like tech stocks were rebounding after the pummeling they received following

Intel's

(INTC) - Get Report

earnings warning last week. Intel ended 5.4% lower to $45.38. Other tech blue-chips also weighed down the Dow, with

Hewlett-Packard

(HWP)

,

IBM

(IBM) - Get Report

and

Microsoft

(MSFT) - Get Report

all on the negative side.

The Dow was almost evenly divided on positives and negatives, so tech stocks weren't completely to blame for the fall-off.

Home Depot

(HD) - Get Report

was down $1.44 to $54.50, after

Chase Hambrecht & Quist

cut the stock's price target to $65 from $70. Home Depot also declined to comment on rumors that it was making a bid for all or part of British retailer

Kingfisher

.

Meanwhile, the Nasdaq was getting negative pull from

Cell Pathways

(CLPA)

, after U.S. regulators said that they would not approve its lead drug Aptosyn, which is used to treat a severe hereditary form of colon polyps. It sank 69%, losing $20.69 to $9.31. Also,

Oratec Interventions

(OTEC)

tumbled after it warned that its third-quarter earnings would not meet expectations.

Even as the Comp continued to slide, some tech heavyweights, including

Apple

(AAPL) - Get Report

,

Oracle

(ORCL) - Get Report

,

eBay

(EBAY) - Get Report

and

Sun Microsystems

(SUNW) - Get Report

, held steady on the upside, countering the downward momentum.

Sector Watch

Semiconductors reeled from last week's earnings warning from

Intel

(INTC) - Get Report

.

The

Philadelphia Stock Exchange Semiconductor Index

was down 5%. Components

Altera

(ALTR) - Get Report

,

Texas Instruments

(TXN) - Get Report

and

Xilinx

(XLNX) - Get Report

were all feeling sympathy pains.

The comeback kid seemed to be the

Philadelphia Stock Exchange Oil Service Index

, which was up 0.7%. At midsession, the sector had been down about 2%. It was getting some lift off components

Weatherford International

(WFT) - Get Report

,

Tidewater

(TDW) - Get Report

and

Cooper Cameron

(CAM)

.

Back to top

Bonds/Economy

Treasuries are under pressure following a stronger-than-expected

existing home sales

(

definition |

chart |

source

) report.

In addition, foreign governments that participated in Friday's

joint intervention in the currency market to boost the value of the euro are thought to be liquidating Treasuries to finance those purchases, which will settle this week. Treasuries are a main asset of central banks.

The benchmark 10-year note lately unchanged at 99 9/32, yielding 5.846%.