Google dives under $300 as Dow sinks

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Advertising giant Google Inc.’s shares closed below $300 for the first time in three years Wednesday, far below their 52-week high of $724.80.

Google (NASDAQ: GOOG), which fell $20.46, or 6.57 percent, led a drop of 411.3 points for the Dow Jones Industrial Average, which finished the day at 8,282.66, down 4.73 percent.

The Nasdaq and S&P 500 both fell more than 5 percent.

Google rival Yahoo Inc. (NASDAQ: YHOO) fell 8.9 percent, or $1.01, to close at $10.34.

Here’s how some other local businesses fared:

• Oil business Chevron Corp. (NYSE: CVX) fell 8.51 percent, or $6.26, to close at $67.28.
• Internet equipment company Cisco Systems Inc. (NASDAQ: CSCO) fell 63 cents, or 3.67 percent, to $16.55.
• Safeway (NYSE: SWY) fell 97 cents, or 4.49 percent, to $20.62.
• Del Monte Foods Co. (NYSE: DLM) fell 15 cents, or 2.56 percent, to $5.72.

In tech and software:

• Chipmaker Intel Corp. (NASDAQ: INTC) dropped 41 cents, or 2.94 percent, to $13.52.
• Oracle Corp., which released a new suite of sales “widgets,” fell 82 cents, or 4.74 percent, to $16.47.
• Sybase Inc. (NYSE: SY) dropped 53 cents, or 2.15 percent, to $24.17.
• Salesforce.com Inc. (NYSE: CRM) fell $2.44, or 9.11 percent, to $24.33.
• Computer and printer maker Hewlett-Packard (NYSE: HPQ) fell $2.11, or 6.35 percent, to $31.14.
• Sun Microsystems Inc. (NASDAQ: JAVA) fell 41 cents, or 10.17 percent, to a new 52-week low of $3.62. Its 52-week high is $21.60.

In finance:

• Visa Inc. (NYSE: V) fell $1.90, or 3.6 percent, to $51.75.
• Wells Fargo & Co. (NYSE: WFC) dropped $1.53, or 5.31 percent, to $27.30.
• Bank of America (NYSE: BAC), the state’s largest bank, fell $1.69, or 9 percent, to $17.

In biotech:

• Genentech Inc. (NYSE: DNA) fell 54 cents, or two-thirds of a percent, to $80.36.
• Gilead Sciences Inc. (NASDAQ: GILD) rose 31 cents, or 0.7 percent, to $44.45.
• Neurobiological Technologies Inc. (NASDAQ: NTII) fell 6 cents, or 9 percent, to 60 cents.
• Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) fell $1.25, or 4.13 percent, to $29.04.

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