Market Toughens As Financials And Tech Sell-Off (C)(BAC)(GE)(JPM)(WFC)(INTC)(CSCO)(DELL)(RIMM)(AAPL)

Investing

Published: April 13, 2008 2:43 pm

Over the last week, both major financials and techs sold off substantially, another sign that one major sector is doing nothing to offset the other. Taken in tandem with GE’s (NYSE: GE) bad news it raises the question of whether there is any place for the market may strengthen.

During the last five trading days Citigroup NYSE: C) fell 3%, Bank of America (NYSE: BAC) was off 6.3%, Wells Fargo (NYSE: WFC) dropped 9.6%, and JP Morgan (NYSE: JPM) sold off 6.7%. Lehman (NYSE: LEH), which was supposed to strengthen after raising new capital, fell off 9.5%.

In the tech arena, Intel (NASDAQ: INTC) sold off 2.9%, Cisco (NASDAQ: CSCO) fell 4.1%, Microsoft (NASDAQ: MSFT) was down 3%. Oracle (NASDAQ: ORCL) dropped 2.5%, and Dell (NASDAQ: DELL) ran off 5.3%. Smartphone competitors Apple (NASDAQ: AAPL) and RIM (NASDAQ: RIMM) both dropped with the iPhone maker down 3.9% and the Blackberry firm fell 3.6%.

Douglas A. McIntyre

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.