Updated from 4:09 p.m. ESTSellers leaned into the Nasdaq Monday, sending it sharply lower in thin volume as investors got jittery about some postclose earnings news. Blue-chips also fell. The Nasdaq Composite closed down 38.85 points, or 1.9%, to 2008.78; the Dow lost 66.07 points, or 0.6%, to 10529.48; and the S&P 500 fell 9.66 points, or 0.8%, to 1147.20. Volume on the New York Stock Exchange was over 1.2 billion shares, and advancers outnumbered decliners by 2 to 1. Over 2 billion shares changed hands on the Nasdaq, where decliners outnumbered advancers 2 to 1. After bouncing around all morning, tech investors started unloading just after midday, with an upcoming midquarter update from Texas Instruments ( TXN) the only visible catalyst. The Philadelphia Semiconductor Index fell 3.7%, with Intel ( INTC) off about 4.2% following Thursday night's lukewarm guidance. Dell ( DELL), Sun ( SUNW) and Microsoft ( MSFT) were also lower. Arthur Hogan, a chief market analyst at Jefferies, said the weakness in tech stems from Intel's lackluster midquarter update last Thursday, which has made investors leery about the Texas Instruments report. "Folks are calling into question just how much IT spending has picked up and how much valuations have gotten ahead of themselves," he said. "Clearly, we're seeing a lot of that cycling out of tech and into some of those sleepy, S&P 500 type of names, and I think we've seen that trend developing lately." After the bell, Texas Instruments said first-quarter revenue would be at or above existing estimates of $2.85 billion. The forecast effectively eliminated the lower half of a previously disclosed range. Outside of tech stocks, a lack of news catalysts left traders groping for direction. "This is an environment where it's really hard to make a decision one way or the other," said John Hughes, an equity strategist at Shields & Co. "It's almost like every day you're watching, looking for a tip-off. Everyone was waiting for Friday, but Friday did nothing but cloud the picture further. "There's still a lot of indecision and uncertainty out there, and when it's like that, I think it's a prudent thing to be more cautious." Overseas, London's FTSE rose 0.1% at 4554, and Germany's Xetra DAX gained 0.5% at 4146. In Asia, Japan's Nikkei closed down 0.3% to 11,503, while the Hang Seng in Hong Kong gained almost 1% at 13,574. In currency trading, the dollar lost ground against the yen, recently buying 111.16 yen in New York compared with 112.07 at Friday's close. Meanwhile, the euro gained against the dollar, buying $1.2408 compared with Friday's $1.2376. The 10-year Treasury note traded up 20/32 to yield 3.77%, its lowest level since mid-July. Gold prices were flat, while crude oil was lower. On Friday, the government said the economy created just 21,000 jobs in February, about 100,000 fewer than economists had hoped. Trading has been choppy since the number hit as traders tried to decide if the number was bullish because of its impact on rate policy or bearish because of its consumer implications.