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Stocks Dip Lower Again

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Major stock gauges continued lower late this morning as the

Dow Jones Industrial Average

has fallen sharply, swooning down 127 to 7655.

The

S&P 500

was off 13 to 977, the

Nasdaq Composite Index

fell 18 to 1574 and the small-cap

Russell 2000

has surrendered 5 to 347.

Thanks to the stock weakness, the 30-year Treasury bond has firmed today and was recently up 13/32 to 102 26/32, yielding 5.31%.

Breadth was negative on the

New York Stock Exchange

as decliners were beating advancers 2,086 to 766 on 344 million shares. On the

Nasdaq Stock Market

, decliners were beating advancers 2,435 to 1,151 on 319 million shares.

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On the NYSE, 274 issues had hit new 52-week lows while zippo hit new highs. On the Nasdaq, 307 issues had hit new lows and 4 had hit new highs.

Tech Focus

Among the technology indices today, the

Morgan Stanley High-Tech 35

was recently off 1.1%; the

Philadelphia Stock Exchange Semiconductor Index

was down 0.5%; and the

American Stock Exchange Inter@active Week Internet Index

had fallen 1.9%.

One of the bright spots today in the technology arena has been

Intel

(INTC) - Get Intel Corporation Report

, which was up 2 7/16 to 77 5/16 after

Morgan Stanley Dean Witter

raised earnings estimates on the company.

In the Newsletters

Computer Reseller News'

top story on its World Wide Web site today is

Vanstar's

(VST) - Get Vistra Corp. Report

announcement yesterday that it lost $10.4 million in the first quarter, or 24 cents per share, lower than

First Call's

seven-analyst estimate of a loss of 22 cents per share. Vanstar reported earnings after yesterday's stock-market close. Vanstar was down 5/16 to 7 15/16.

Computer Associates'

(CA) - Get CA, Inc. Report

purchase of privately held

Qxcom

tops news on

Computerworld's

Web site today. Financial terms of the deal weren't disclosed, the article says. Computer Associates was recently down 13/16 to 30 7/16.

Computer Retail Week's

"Spot Poll" on its Web site asks readers today: "Will the retail PC industry miss

Computer City

? This week

CompUSA

(CPU)

completed its purchase of Computer City, a unit of

Tandy

(TAN) - Get Invesco Solar ETF Report

, at a price of about $211 million.