Market turmoil reaches overseas

 

latest developments

There's plenty of pain to go around as technology companies take a whipping on Wall Street. Formerly high-flying Linux firms have sunk below their IPO prices, and many scheduled IPOs have put the brakes on their public plans. "For every (IPO) that goes through the roof, 10 fail." - Ed Archer, vice president of Pearl Meyer & Partners

Wall Street slump hits stocks in Europe, Asia Global stock markets tumble further, with Asian markets posting some of the steepest single-day losses ever and sharp falls in Europe adding to the pain of Friday's slump. Analysts, Clinton: Street sell-offs won't spur crash Even with the carnage expected to continue, analysts say that more double-digit losses in stocks will only bring prices closer to last October's levels--not enough to stop the economy dead in its tracks. Market may slow Silicon Valley housing boom People are speculating that Silicon Valley--home to hundreds of wealth-generating tech companies--may become a hotbed of foreclosures if the historic Wall Street sell-off continues next week. Linux stocks sink under IPO prices The dour mood on Wall Street drags three Linux company stocks below their initial public offering prices, and others aren't far behind. Market turmoil makes IPO future uncertain The stock market plunge over the past few weeks creates havoc for companies that were planning to launch initial public offerings. High-tech CEOs chalk up large paper losses Not only the little people, but also rich and famous high-tech executives are slammed in a big sell-off on Wall Street. Markets plunge in frenzied sell-off update A massive sell-off in technology stocks swamps the major stock indexes, sending the Nasdaq and the Dow industrials to their largest point declines ever. Internet services take tech sector downhill The CNET tech index loses 208.64, or 7 percent, to close at 2,696.53, putting an exclamation point on a sell-off that has dragged on for several weeks. Employees may demand cash as stocks sink The sharp decline in many stocks may force high-tech employers to resort to drastic means to retain and attract employees: cash.