Technology Stocks Drop in Morning Trading

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Technology stocks tumbled Monday as investors sought direction in the first day of trading since last week’s terrorist attacks on the World Trade Center.

The Nasdaq Composite Index dropped 95.40 to 1600 in morning trading. The Dow Jones Industrial Average fell 474.19 to 9131.32.

The Federal Reserve cut interest rates by a half point before the market open Monday, bringing its key benchmark down to nine-year low 3% in a move to boost the economy.

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