Deep Decline for Data Center Stocks

Today’s numbers from Wall Street are grim. The Dow lost a record 777 points (7 percent) after the House of Representatives rejected the financial bailout package. The S&P 500 slid 8.8 percent, and the NASDAQ lost 200 points, shedding more than 9 percent of its value. As bad as those numbers were, the daily percentage losses were even steeper for many shares of companies in the data center sector. Here’s a look at the day’s damage:

Level 3 is likely getting particular attention due to its debt load. As we noted this morning, the company says it has $666 million in cash and cash equivalents and has no debt coming due until a $362 million payment in Sept. 2009.