Market drops as Cisco fuels tech decline

By Ellis Mnyandu

Cisco, whose products form the backbone of many corporate communications networks, declined 2.5 percent, driving the Nasdaq composite index deeper into bear market territory.

"In general, the market is very, very volatile ... there's a lot of uncertainty."

Stocks were on track for a fourth straight day of declines, and the Nasdaq composite index was in a bear market, have fallen more than 20 percent from its October closing high.

Shares of International Business Machines Corp , a technology services company, were off 1.8 percent at $101.73 on the NYSE.

PepsiCo Inc led advancers on the S&P 500 with a gain of more than 4 percent after the soft-drink and snack maker posted an operating profit in line with Wall Street's estimates.

(Editing by Kenneth Barry)

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