Intel falls on downgrade, takes Nasdaq lower

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October 10, 2012 2:14 AM EST

The Nasdaq Composite fell 1 percent in morning trading on Tuesday, pressured by declines in shares of Apple, Microsoft, Intel and Oracle.

The Dow Jones industrial average <.DJI> fell 43.39 points, or 0.32 percent, to 13,540.26. The S&P 500 <.SPX> dropped 7.30 points, or 0.50 percent, to 1,448.58. The Nasdaq Composite <.IXIC> lost 38.17 points, or 1.23 percent, to 3,074.19.

Intel fell 2.7 percent to $21.89 after Sanford Bernstein cut the chipmaker to an "underperform" rating.

(Editing by Kenneth Barry)

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Copyright 2012 Thomson Reuters. All rights reserved.

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