Chip industry tremmors shake-up main indices

Stocks fell yesterday as technology stocks led the market down amid negative comments about the prospects for computer-chip makers…

Stocks fell yesterday as technology stocks led the market down amid negative comments about the prospects for computer-chip makers and related companies, including Applied Materials.

The Nasdaq Composite Index fell 65.37 to 1,685.74, according to the latest data, while the Dow Jones Industrial Average dropped 66.94 points to 10,472.12. The benchmark Standard & Poor's 500 index lost 13.23 points to 1,202.45.

Applied Materials, a maker of equipment used to make semiconductors, fell 9.5 percent, or $4.41, to $41.95. Elsewhere, investors got earnings reports from some of the 1,500 companies set to hand in their scorecards this week, including a mixed bag of results from financial services heavyweights like Citigroup and The Bank of New York.

Citigroup rose 29 cents to $49.15 and Bank of New York tumbled nearly 13 percent, or $6.40, to $43.