NEW YORK -- Stocks fell steeply for a second straight session as Intel Corp.'s disappointing earnings report hammered technology shares and plunging bond prices dragged the broader market lower. The Dow Jones industrial average fell 184.90, 1.8 percent, at 10,232.16, extending its drop of 231.12 yesterday. Dow tumbles another 185
Broader stock indicators were also sharply lower.
The Standard & Poor's 500 fell 27.49 to 1,285.55, and the Nasdaq composite index fell 71.16 to 2,801.27.
Decliners beat advancers by a 7-to-3 margin on the New York Stock Exchange, with 2,139 down, 908 up and 471 unchanged. NYSE volume totaled 817.45 million shares vs. 772.44 million yesterday.
The NYSE composite fell 11.29 to 592.09; the American Stock Exchange composite index fell 2.70 to 789.41; and the Russell 2000 index of smaller companies fell 5.36 to 419.32.
The 30-year Treasury bond slipped 21/32, or $6.56 per $1,000 in face value; Its yield rose 6 basis points to 6.28 percent, the highest level since Oct. 28, 1997.
Intel, often considered a bellwether stock for the technology sector, tumbled. The company, the world's largest manufacturer of semiconductors, reported late yesterday it earned 55 cents a share in the quarter, 2 cents below analysts' forecasts.
The results surprised many investors who have come to expect Intel to meet or beat Wall Street forecasts. Several other technology leaders also fell, including Microsoft Corp.