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eBay Slumps 5% on Comments

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(EBAY) - Get eBay Inc. Report

was down 5% in preopen


and other Internet issues were also lower. After Tuesday's close,

Merrill Lynch

analyst Henry Blodget said even the top companies in the sector could face short-term difficulties.

Blodget also cited


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, saying that Yahoo! in particular is risky in the near-term because of the deteriorating online advertising market.

Yahoo! was down 4.1% in the preopen. was down 4.1%. Blodget said eBay's business is OK but that the stock is expensive.