Nasdaq is sinking

Actually, the WSJ is using the word "plunging." Tech issues, which had been holding up pretty well in this topsy-turvy goose-pimply market, are really taking it on the chin. Even Google is getting hit, down more than 5 percent. Cisco's disappointing earnings apparently got investors spooked this morning - along with CEO John Chambers speaking of a "dramatic"' decline in sales to automobile and financial companies. The numbers were actually in line with analysts expectations, but Wall Street likes to see a company like Cisco do better than that. Well, what's the use in pussy-footing - they're just looking for any old excuse to sell. Here's a Bloomberg story.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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