European stock markets opened shakily this morning as Apple’s surprise stock warning last week begins to shake investor confidence in other IT-related stocks.
Reuters reports the DJ Stoxx technology sector displaying the first sign of this impact, recording an 0.5 per cent loss in early dealings. London, Paris and German stock markets opened badly, but have now entered a nervous neutral state.
Analysts expect belief in the IT sector to remain shaky, with impending announcements regarding the Euro, and worries over oil prices also affecting the markets this morning.
The Asian markets also succumbed to the tension, with analysts forecasting that investors would avoid high-tech industries for the near future. Technology stocks are likely to be put up for sale, reflecting news from the Asian markets. Issues in Tokyo, Seoul and Singapore were badly shaken.
Shares in Dell, Compaq, Hewlett Packard and Intel have also begun to slide. By close of business Friday, the Nasdaq had begun to recover some of its losses, gaining 3.34 per cent on the day.
Adobe lost $5.25, Microsoft lost a dollar (closing at $60.3125) and Macromedia lost $3.1875, to close at $80.8125. Bucking the trend, Corel climbed $0.125 to close at $3.6875.