U.S. stocks fall for fourth day this week as tech shares slide

11:46 am ET Nov 9, 2007

DJIA

13,108

-157.79

S&P

1,459

-15.37

NASDAQ

2,641

-54.01

10Yr

4.22%

-0.050

U.S. stocks fall for fourth day this week as tech shares slide

NEW YORK
U.S. stocks fell sharply Friday, declining for the fourth day this week
as Wachovia Corp. stirred more subprime concerns by hiking its loan loss
estimates and Qualcomm Inc. hit tech stocks with a disappointing
forecast.

Tech Stocks: Tech stocks see another sell-off

SAN FRANCISCO
It was another bad morning for technology stocks Friday as the Nasdaq
Composite Index dropped 2% in early trading.

Qualcomm shares slide after disappointing forecast

NEW YORK
Qualcomm Inc. saw earnings surge 84% for the September quarter thanks to
strong demand for the company's chipsets that power wireless phones, as
well as a one-time tax benefit.

Wachovia sees $1.1 billion drop in value of asset-backed debt

BOSTON
Wachovia Corp. on Friday became the latest banking giant to warn that it
sees bigger losses as a result of the continued deterioration in the
mortgage market.

Former Citigroup CEO Prince to get $29.5 million plus bonus

BOSTON
Former Citigroup chief executive Chuck Prince will receive stock
options, grants and other benefits worth an estimated $29.5 million when
he retires, according to a regulatory filing late Thursday.