Shares of Internet-related companies and on-line brokerage firms also fell.
Many Internet-related companies have collapsed over the past year, while those that survive are finding it hard to get financing for new projects.
Far deeper drops were suffered yesterday by Internet-related companies.
Still, for an Internet-related company, the stock is trading at a comparatively modest 53 times this year's earnings.
And it's not just the Internet-related companies taking the hits.
Internet-related companies and technology issues were also strong.
Reliable power and telecommunications are essential to Internet-related companies.
There are also many sites not owned by registrars or Internet-related companies.
The initial public offering would be the latest in a flurry of sales by Internet-related companies over the last year.
Indeed, the Netpreneur program has identified more than 1,000 new Internet-related companies in its data base.