WorldCom Inc slid US$0.39 to US$6.73.
The second-largest telecommunications company said an internal audit found that about 12 salespeople improperly boosted their commissions, costing the company as much as US$4 million. The disclosure comes one week after Chief Executive Bernie Ebbers told investors the company's finances are sound.
Take-Two Interactive Software Inc dropped US$0.38 cents to US$18.18 in its first day of trading since Jan. 22. The SEC is looking into the video-game maker's accounting as the company restated seven quarters of financial results, saying it improperly recorded revenue from sales to distributors.
Symbol Technologies Inc plunged US$3.39 to US$8.40 and its 29 percent decline was the biggest in the S&P 500. The maker of bar-code scanners cut its 2002 earnings and sales forecasts because spending on information technology products isn't showing signs of reviving.
Dell Computer Corp dropped US$1.21 to $25.60. Chairman Michael Dell said corporate PC sales may pick up in the second half of this year, backing off his earlier prediction for a rebound by the middle of 2002.
Telecom shares slumped on concern they will follow Qwest Communications International Inc and borrow from banks as short-term lending dries up.
Sprint PCS Group, the fourth-largest mobile phone operator, fell US$0.93 to US$9.27 and Qualcomm Inc, which licenses patents for mobile phone phones used by 103 million people, dropped US$2.65 to US$37.40.
Halliburton Co rose US$1.61 to US$16.27. A US bankruptcy judge has temporarily halted more than 200,000 asbestos claims against its Dresser Industries unit, which used to own a business beset by the health lawsuits.
Halliburton shares fell to a one-year low of US$10.06 on Jan.
18 on concern asbestos claims would drive the second-biggest oil-services provider into bankruptcy.
PayPal Inc surged US$7.09, or 54 percent, to US$20.09. The provider of online payment services became the first Internet company to go public in almost a year.
The Russell 2000 Index of smaller stocks lost 1.50, or 0.3 percent, to 469.25. The Wilshire 5000 Total Market Index, the broadest measure of US shares, shed 113.83, or 1.1 percent, to 10,315.48. The market value of US stocks dropped US$130.9 billion.
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