Another crappy day in the market as General Electric stoked concern about the health of corporate profits and the wider economy. The major indexes were at times down more than 1 percent.

In the latest sign that the tech sector in general and Silicon Valley in particular is feeling the pinch of reduced spending and an overall slowdown, yet another big employer slashed its workforce. The New York Times reports that Advanced Micro Devices said it would cut about 1,650 workers.

Intel Corp. posted a 51% surge in fourth-quarter profit but sounded a cautious note about business conditions in the first quarter and the rest of the year.

The forecast by the giant chip maker, whose results are seen as a gauge for global technology demand, sent its shares down more than 14% in after-hours trading.

The markets have been nuts, but I believe they can only take so much before people around the world begin to take notice and begin bargain hunting... Hang tight though, this is the type of market that makes you feel like you are on the cruise ship that just started passing out the barf bags.