Bad news about the economy took its toll on Thursday as the Nasdaq Composite Index sank 41.90 points, to 1,801.30, after dropping 21.81 on Wednesday, and the Dow Jones Industrial Average lost 123 points, to 9,967, after losing 131.13 points on the previous day.
Sun Microsystems said it would miss revenue targets, Corning announced additional layoffs amid a "sudden slowdown" in orders, and both Integrated Device Technology and Advanced Micro Devices announced that revenue could decline by as much as 15% in the September quarter.
Continuing the decline that began three weeks ago, the EBN 100 Stock Index fell below 1,230 on Thursday, the lowest point it's reached since plummeting to 1,191.92 on April 9.
Shares of chipmaker Advanced Micro Devices fell to lows not seen since 1999 on Thursday, a day after the company warned that its revenue would dip about 15% this quarter. Shares fell 95 cents, or 6.7%, to $13.25.
Optical components maker JDS Uniphase shed 10% of its stock price to hit a new 52-week low on Thursday afternoon. The stock was down 72 cents, to $6.42, on Nasdaq, a 95% drop from its year-ago level of $118.
Though down from previous weeks, the distribution sector fared the best, dropping less than 1%. Shares in Bell Microproducts fell, while shares in both Arrow and Avnet were on the rise.
EMS providers were hardest hit with double-digit losses to ViaSystems and IEC Electronics. Even Celestica and Jabil Circuit were down for the week.