Why Intel, Microsoft, and HP Stocks Flopped Today
Bad news for investors in the personal computing (PC) industry: In morning trading Tuesday, shares up and down the supply chain -- from chipmaker Intel (NASDAQ: INTC) to software giant Microsoft (NASDAQ: MSFT) to hardware manufacturer HP (NYSE: HPQ) -- are all sliding.
As of 10:40 a.m. ET today, Intel stock was down a big 4.6%, with both Microsoft and HP following with 3.9% losses.
So why are tech stocks taking a bath this morning? It's the economy, silly. Although analysts had predicted that inflation would decline with the falling price of oil, August's inflation rate inched up another 10 basis points, resulting in an 8.3% year-over-year inflation rate for the month.
Source Fool.com
