The market was very nervous in the last minutes as (the tech-heavy U.S.) Nasdaq dove sharply. It was pure Nasdaq influence - nothing else.

The market seems to be tied more to the Dow nowadays than it is to Nasdaq and brokers seemed to have used this small decline there as a pretext to sell and make some profit.

Everyone is waiting for Wednesday, and it looks like the futures market bears have used the wait-and-see mood to sell a bit and play downwards.

The market is becoming very nervous about the earnings outlook for the tech sector after a string of bearish outlooks by tech giants such as Nortel and Sun Microsystems.

This fall is 100 percent Nasdaq. There are no local factors today.

It looks like the market is operating independently of Wall Street today. It is a normal fight between bulls and bears ahead of the options redemption.