Investor optimism seems to temper today as stocks in Toronto rolled back from the gains made in the previous three trading sessions. A sales warning from American tech giant, Intel Corp., and several poor earnings reports burst what had been a growing balloon of hope that the markets had turned a corner.

The Toronto Stock Exchange’s 300 composite index finished the day down 62.38 points, or 1%, at 6,157.06.

Technology stocks fell 6.01% led by Celestica Inc., which dropped $2.72, or 12.5%, to close at $19.00. Nortel Networks Corp. was hurt too. It fell 9¢, or 9.6%, to 85¢. Canadian chips maker ATI Technologies fell 69¢, or 8.1%, to $7.81.

The S&P/TSX Venture Composite Index closed down 3.02 at 899.66. Trading was active on a volume of 26.4 million shares worth 6.8 million dollars. There were 137 advances, 156 declines and 563 issues unchanged.

In the U.S., stocks also dropped in a boomerang of pessimism. The Dow Jones industrial average slumped 219.65 points, or 2.66%, to 8,036.03, according to the latest available figures. The Nasdaq Composite index slumped 50.02 points, or 3.9%, to 1,232.42. Intel led losses in the tech-heavy index. The Standard & Poor’s 500 index sagged 21.25 points, or 2.41%, to 860.02.