NEW YORK (CNNfn) - A surprise profit warning from technology bellwether Intel sent investors running for cover Thursday, leading to sharp losses in all major market indicators, especially the technology-laden Nasdaq Composite.
According to early estimates, the Dow Jones industrial average closed 94.16 points, or 1.1 percent, lower at 8,445.08. On the New York Stock Exchange declining issues smothered advances 2,139 to 798 as 648 million shares were traded.
The Nasdaq Composite, the hardest hit major market indicator, tumbled 47.72 points, or 2.71 percent, to 1,711.98.
The broader S&P 500 index lost 12.26, or 1.17 percent, to 1,035.07.
Bonds closed sharply lower as many investors headed for the exits, fearing bad news from Friday's February employment report. The price of the benchmark 30-year Treasury bond fell 14/42 of a point, raising the yield to 6.06 percent.
The dollar rose sharply against the German mark and scored more modest gains aginst the Japanese yen.
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