was down 23.6% -- more than 14 points at the open after issuing its first warning in two years, and the chip bellwether was pulling down other tech stocks.
Chipmakers showed big losses, with the
down 6.7%. Among other major tech issues,
was down 2.9%;
was off 3.8%; and
Several analysts downgraded Intel.
said demand remains strong for some tech companies, however, and selling such stocks as Cisco would be an "overreaction."