Wall Street Beat - Another Week of Tumult for Tech

Election week in the U.S. turned out to be another tumultuous time on the stock market for tech companies, with a weak forecast from Cisco Systems and bad news for companies including Advanced Micro Devices, Dell, Nokia, Amazon and consumer electronics retailer Circuit City.

Tech vendor shares plunged along with the rest of the market Wednesday, a day after Barack Obama's historic victory in the presidential election. This was not necessarily a negative reaction to his impending presidency, but rather a general effort to sell at a profit after an exuberant run-up in share values on Election Day.

Though Obama has called for better financial oversight by the government, market observers have noted that his one major speech on the topic, at Cooper Union in March, avoided a call for draconian regulations.