Making sense of the tech meltdown on Wall Street

Big tech stocks lead the way down Monday. CNET's Technology Index, which tracks 66 publicly traded tech companies, dropped 4.08 percent to 1,276.67 Monday, its lowest close in more than two years. And it could have been worse: At one point in the day, the CNET Index was at its lowest point since May 2005. A late rally brought some stocks back just before trading ended. The drop in the CNET Index was similar to a 3.08 percent drop in the Dow and 4.34 percent decline in the Nasdaq index. Don't blame the start-ups for this one, though they may end up suffering the most for it. The tech crash Monday was led by one of the most sober names in tech, German corporate software maker SAP. SAP announced Monday that it would miss third-quarter expectations, sending its stock into a tailspin. SAP shares closed at $39.68 per share, down 13.08 percent for the day and a new 52-week low.