DEBORAH MARCHINI, CNN ANCHOR: A half-hour or so ago, it looked like tech stocks might stabilize at the open, but the Nasdaq futures have taken a sharp dip south.</s>DAVID HAFFENREFFER, CNN ANCHOR: Should the nail-biting continue? Sasha Salama is over at the Nasdaq marketsite this Monday morning -- Sasha.</s>SASHA SALAMA, CNN CORRESPONDENT: Well, David and Deb, it's a pretty sure bet that the nail-biting will continue. Whether these declines continue is really the key question here. Lot's of folks trying to figure out whether we are nearing the bottom or have hit a bottom after the Nasdaq turned in its worst percentage performance in a week last week. We all know what happened, the Nasdaq getting slammed, finishing at 3321. That's 34-percent below its peak of 5048. That was reached at the close March 10. So the market has essentially given back one-third of its value in little over a month. Now, some analysts are telling me that the kind of selling we saw last week and Friday does bode well for the market nearing a bottom, especially given the high volume. Some others also say when you put that against the backdrop of strong earnings reports, that also could bode well. Now, as we see, Nasdaq 100 futures are down handily, but they're off their lows of the morning. Don't forget, the futures trading these days have been extremely volatile, so, really, anything could happen between now and the open. That said, lots of earnings coming in this week from some of the big heavyweights here, including Intel, Microsoft, Apple. Today we're expecting reports from Novellus, Sanmina and Vitesse, just to name a few. So we are going to be keeping an eye on all of that and, of course, waiting to see whether we have, in fact, hit close to a bottom. David and Deborah.</s>MARCHINI: All right, Sasha, and I know you'll be keeping us posted. Thanks. Search CNN.com CNNSI.com CNNmoney.com The Web
Nail-Biting Continues as Wall Street Looks for a Bottom