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Previously high-flying technology stocks locally yesterday appeared to exhibit the same symptoms of frailty shown by technology stocks in the US.
On Monday, the technology-heavy Nasdaq index in the US posted its biggest point loss ever, led by Microsoft Corp.'s stock after a federal judge ruled that it broke the antitrust law.
The Nasdaq composite index sank 349.15 points, or 7.64%, to 4,223.68, its biggest single-day point loss ever and the fifth biggest in percentage terms. The close was its lowest in two months.
Meanwhile, local analysts noted that the Philippine stock market, even before the Nasdaq plunge, had been parched of incentives since being battered by political controversies and stock …