(Updated from 7:33 p.m. EST)
Shaken but not stirred, post-close traders who witnessed a market meltdown in regular trading braced for another round.
To recap the events of today's wild and wooly market ride: Both the
Dow Jones Industrial Average and the
Nasdaq Composite Index closed down for the fourth day in a row. The Nasdaq -- which finished behind 12% for the week -- touched a fresh 52-week closing low today. The technology-laden index is now nearly 40% off the highs it hit last March and down about 25% for the year.
Today's selloff came on the heels of a reduced revenue forecast last night from PC giant
. That news shocked the market and rattled the computer and semiconductor sectors. (
wrote about Dell's
weak sales outlook in a separate story.)
Volume during tonight's session has, not surprisingly, been thin. After-hours investors have mostly dabbled in large-cap tech stocks, leaving their prices little changed.
, today's most active stock on the market, edged up 44 cents, or 1.9%, to $23.44 on
and gained 19 cents, or 0.82%, to $23.19 on
, the most active stock on Island, also recouped some of its daytime losses. The tech bellwether, which dropped 6% by day, gained back 13 cents, or 0.25%, to $50.19 on Instinet and rose 19 cents, or 0.37%, to $50.25 on Island.
Meantime, chip giant
, which tanked 10.6% during the regular session, improved 25 cents, or 0.7%, to $37.25 on Instinet and climbed 30 cents, or 0.81%, to $37.30 on Island. This morning
Morgan Stanley Dean Witter
cut its rating on the chip stock to neutral from outperform.
Elsewhere, shares of
, which plunged 35.4% today, lost an additional $4.50, or 6.4%, to $65.63 on Island and dropped $3.27, or 4.7%, to $66.86 on Instinet.
After the bell, the manufacturer of components for data storage networks, reiterated that its chief executive is retiring, but clarified that it did not know about specific plans by
, its largest customer, to phase out JNI's technology. (
discussed JNI's news in a
In a quarterly report filed with the
Securities and Exchange Commission
, JNI said that it believes Sun has started phasing out its SBus interface in its workstations and low-end servers and may in the future discontinue using the interface in its high-end servers.
Earlier this evening, JNI issued a statement that said Sun "has never officially announced an end-of-life date for SBus in its servers, but in public forums certain executives from Sun have indicated that Sun would eventually move to the PCI bus interface or a successor to the PCI bus." JNI added that it "is not aware of any plan by Sun to eliminate the SBus other than Sun's past public statements."
This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.