Technology stocks fell after top computer chip maker Intel Corp. warned of tepid results, but blue chips bounced upward as investors dashed for cover in old-line companies.

The technology-laced Nasdaq made a dramatic rebound from a 6 per cent loss, as Intel's warning sparked a brutal sell-off in tech stocks. The Nasdaq ended down just 25.11 points at 3,803.76, as investors started hunting for bargains.

Intel dropped more than 21 per cent to end down $13-35/64 at $47-15/16, knocking off roughly $95 billion in market value of one of the world's most widely held stocks.

Meanwhile, oil prices eased back from 10-year highs after Vice-President Al Gore called for the release of oil from the nation's emergency reserves.