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Intel profits warning sends high-tech shares tumbling

Technology stocks took a battering yesterday following a profits warning from chip giant Intel.

By John Oates

Published: 22 September 2000 09:35 GMT

Intel shares fell 21 per cent and Compaq and Dell shares both fell ten per cent. Asian stock markets followed the US lead. Shares in UK chip maker ARM also dropped nine per cent on the news.

The chip giant blamed weak European demand and said growth for the third quarter was likely to be between three and five per cent.

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