For Wall Street, the Lucent sell-off fueled fears that technology and telecom stocks will remain under pressure. Some analysts say some investors may be shifting out of technology stocks and into defensive stocks, such as utilities. The volatility may not be over. Traders will scrutinize Friday's report on unemployment and average hourly wages for clues about what the Federal Reserve will do when it next meets Feb. 1-2. Hints of higher inflation could shake up the markets.
Some investors think the market needs a breather.
The Associated Press contributed to this report.