The Irish stock market closed marginally weaker, dragged down by heavy losses in leading blue-chip and industrial heavyweight CRH.
The industrial materials group pushed the market into negative territory as it lost more than 6 per cent of its value earlier in the day before regaining some ground towards the close.
Shares in the company finished 3.5 per cent lower at #18.97, having dipped as low as #18.50 earlier.
"There are a lot of negative stories out of the US at the moment and CRH is very exposed to that market," said one dealer. "It was only a matter of time before the stock started to reflect that."
Elsewhere, Irish stocks turned in a mixed performance. Dealers said Fyffes had an active day, closing three cents firmer at #1 after Balkan Investment Company, whose directors Neil, Carl and David McCann, are also directors of Fyffes, purchased 5.5 million shares in the company at #1.
Smurfit lost six cents to close at #2.12, despite the announcement by US broker Merrill Lynch that it would initiate coverage of the company at an intermediate-term buy and long-term buy.
The two leading banks closed firmer with AIB up four cents to #13.16 while Bank of Ireland gained five cents to #9.65. But Eircom did not fare as well, slipping 1.2 per cent to #2.47 despite a 4 per cent gain by Britain's Vodafone.
Among technology stocks, Iona made strong gains, finishing #9 higher at #62, although dealers said trading in the stock had been light.
Irish stocks on Nasdaq were mostly unscathed by the gloomy news from Hewlett-Packard and Gateway. Baltimore rose 37 US cents to $10.88, Iona rose a healthy $2.38 to $57, Trintech was unchanged at $9.56, but Riverview fell 81 cents to $18.06.
