Recent selling pressure has stoked volatility, such that the Volatility Index is up 7%. It is still shy of the levels that it reached amid last week's volatile action, though.
Semiconductor stocks have sunk deeper into the red so that the sector is now down 3.0%, but Ciena (CIEN 25.92, -2.89) is the worst performing name among tech issues. The stock's 10% slump follows the company's downside guidance, which has completely overshadowed news of better-than-expected earnings for the latest quarter.