Tech Stocks Take It On The Chin As Market Continues To Freefall

It's a blood bath out there this morning. The S&P 500 is at a four-year low as the credit crisis keeps getting worse, despite the passage of the government's $700 billion bailout plan. The market is taking tech stocks down with it. Google is down 4 percent to $368, its lowest point since 2006. Apple is down 6 percent to $91. Microsoft is down nearly 5 percent to $25. Amazon, Yahoo, eBay—all down. Already as I write this, there seems to be somewhat of a rally going on in some of these stocks (particularly Google). But if the economy falters, tech stocks won't be a safe haven for investors, even if they are cash-rich and not as exposed to the credit debacle as companies in other sectors.