WorldCom

(WCOM)

hit $26.31, another new low, and was off 2.8% this afternoon as telecommunications stocks continued to slump.

Sprint

also set a new low at $24.75 and was down 7.5%.

Ericsson

(ERICY)

, one of the day's most heavily traded

Nasdaq

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stocks, was down 9%.

Only

AT&T

(T) - Get Report

, down just 0.3% after rising this morning, managed to escape the malaise as investors looked hopefully to the company's board retreat, which began today. Equipment makers also sank, with

Lucent

(LU)

hitting a new low at $33.31 and

JDS Uniphase

(JDSU)

down 3.4% despite a spate of upgrades for optical stocks.