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Market Close: Dow, Nasdaq still reeling

Internet and hardware stocks were slammed again Tuesday as the Nasdaq composite shed 73 points to 2,380.78 while the Dow Jones industrial average fell 124 points to close at 10,531.09.

Even a strong consumer confidence report couldn't kill the selling bug.

"We are a market driven by news that has been lacking in news," said Bryan Piskorowski, market analyst at Prudential Securities.

Yahoo! Inc. (YHOO) plunged 10 15/16 to 126 15/16. Amazon.com Inc. (AMZN) lost 5 3/4 to 111 3/4 and Excite Inc. (XCIT) shed 1 1/8 to 116 15/16. Lycos Inc. (LCOS) spent much of Tuesday trading in the green after it was picked to replace Fore Systems Inc. (FORE) on the Nasdaq-100 index Friday. But by day's end, Lycos closed off 1 1/4 to 96 1/2.

RealNetworks Inc. (RNWK) fell 13 3/4 to 58 and Inktomi Corp. (INKT) closed off 17 5/16 to 86.

America Online Inc. (AOL) and Infoseek Corp. (SEEK) lost 4 1/2 and 5/8 a share, respectively.

Gateway Inc. (GTW) slid 4 3/8 to 57 1/16. Dell Computer Corp. (DELL) shaved off 1 9/16 to 34 9/16 and Compaq Computer Corp. (CPQ) dipped 1 1/8 to 23 15/16. Apple Computer Inc. (AAPL) dipped 7/16 to end at 41 1/2.

Intel Corp. (INTC) fell 3 1/16 to 52 7/8 while Advanced Micro Devices Inc. (AMD) and IBM Corp. (IBM) lost 5/8 and 2 5/16 a share, respectively.

Echostar Communications Corp. (DISH) gained 1/4 to 102 1/8 after setting a two-for-one stock split. Macromedia Inc. (MACR) fell 3 15/16 to 42 after penning a marketing deal with At Home Corp. (ATHM).

Worldgate Communications Inc. (WGAT) fell 1 1/2 to 37 1/8 after inking tentative agreements with 19 cable companies in 13 countries to deploy its Internet via TV service.

Microsoft Corp. (MSFT) lost 1 1/32 to 76 7/32 and Oracle Corp. (ORCL) dropped 3/4 to 24. Sun Microsystems Inc. (SUNW) closed off 3 7/8 to 55 1/16.