The Dow Jones Industrial Average (DJIA) is down 110 points, or 0.95%, to 11,246 in early trading Thursday.
Cisco CSCO is leading the market lower after the networking company reported a profit after the close Thursday that topped expectations, but gave a tepid revenue outlook. It's shares are down nearly 17 percent.
Other tech stocks followed Cisco lower, with Intel INTC down by 1.3% and Dell DELL tumbling nearly 6%.
In Europe, the cost of debt in Ireland soared as the yield spread between 10-year Irish and German bonds reached its widest level ever. The dollar index moved higher on this news and is currently up 0.58%.
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Posted In: EarningsNewsGuidanceIntraday UpdateMoversCommunications EquipmentComputer HardwareDow Jones Industrial AverageInformation TechnologySemiconductors
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