Intel ( INTC), which was downgraded to neutral from buy, was off $1.31, or 4.9%, to $25.35. AMD ( AMD) fell 36 cents, or 4.8%, to $7.14, touching a new 52-week low. In addition, Texas Instruments ( TXN) fell $1.05, or 3.1%, to $32.35, and LSI ( LSI) was down 43 cents, or 8.1%, to $4.88. National City ( NCC) was one of the financial sector's most notable losers Wednesday as the Cleveland bank set plans to slice its dividend nearly in half and close its wholesale-mortgage division. The company's shares fell 4.3% to $15.75 on word its quarterly payout would be cut to 21 cents a share from 41 cents. "Today's environment requires aggressive steps to overcome the near-term challenges facing the industry and our company, while positioning our businesses to continue delivering solid performance," said National City Chairman, President and CEO Peter E. Raskind, in a press release. At the same time, National City has shut down its wholesale mortgage division, a move that others in the industry have already made, resulting in the elimination of 900 jobs. IBM fell 3.2% after the company confirmed that it has acquired Israeli data storage startup XIV Information Systems. Terms of the deal were not disclosed, but earlier media reports priced the purchase between $300 million and $350 million. IBM fell $3.41 to $104.69.