NEW YORK — Stocks fell sharply Monday, pulling the Nasdaq composite index below 3,000 for the first time in more than a year, after Hewlett-Packard became the latest high-tech company to announce disappointing earnings. Bargain-hunting late in the session helped offset some of the losses.
The slide continued a downturn triggered last week by a series of bleak earnings reports and forecasts. Analysts, saying volatility remains the only constant on Wall Street, cautioned against reading too much into the late rebound, which briefly lifted the Nasdaq into positive territory.
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