Sector Snap: Internet stocks slide with market

SEATTLE (AP) - Shares of major Web companies dropped sharply Monday amid a massive market sell-off that sent the Dow skidding below 10,000 for the first time in four years. Shares of Google Inc., the leading Web search and advertising provider, plunged $17.84, or 4.6 percent, to $369.07 in late afternoon trading. Yahoo Inc., its closest competitor, saw its stock fall 99 cents, or 6.2 percent, to $15.01. Analysts fear that Web ad sales, particularly graphic-rich "display" ads, could take a hit if economic turmoil depresses consumer spending; New York-based research group eMarketer Inc. has cut its Web ad spending forecast twice so far for 2008. Shares of Web movie rental company Netflix Inc. plummeted $3.31, or 11.4 percent, to $25.66 after the company trimmed guidance for fourth-quarter sales and total subscriber numbers. The... [read full story]