By Stewart Lewis

(January 25 – 17:30 ET) – Tech sellers went to market today. The selloff drove the Toronto Stock Exchange 300 composite index down 122.84 points to 9,183.35. Trading volume dropped to 153.2 million shares, down from yesterday’s 163.1 million shares.

On the other hand, advancing issues outnumbered declining issues 531 to 496. Trading value fell to $3.48 billion from $3.60 billion.

Six of the TSE’s 14 sub-indices fell, but less than 1%. The tech-laden industrials sector was the exception, dropping 4.63%. It was inspired by a tech selloff that began on the Nasdaq, triggered in turn by an economic growth warning from Corning, a leading supplier of optical components.

North of the 49th parallel, Nortel Networks fell $3.70 to $56.65, while JDS Uniphase, Corning’s main rival, declined $11 to $86.50. JDS gave a mixed message after the close. Its earnings per share exceeded expectations, but in a statement to the press, the company warned that it has lower near-term sales visibility.

Research In Motion fell $11.95 to $97, and Celestica shed $8.15 to $99.85.

In the banking group, Royal Bank of Canada fell 65¢ to $51.80. CIBC rose $1 to $50.70, and Bank of Nova Scotia gained $1.10 to $44.50.

Canada’s Venture Exchange, the CDNX, added a few points, climbing 11.10 to 3,197.48.

Technology stocks on U.S. markets sank Thursday as profit-takers took advantage of disappointing earnings news in the sector.

Wall Street investors didn’t get much out of congressional testimony given today by Federal Reserve Chairman Alan Greenspan. He didn’t give any indication of the size of a possible interest-rate cut expected to come out of next week’s Fed meeting. Instead, the Nasdaq composite index, taking its cue from Corning, dropped 104.87 points to 2,754.28, a loss of 3.67%.

The Dow Jones Industrial Average had a better day, gaining 82.55 points to 10,729.52. The S&P 500 shed 6.79 points to 1,357.51.