The Nasdaq sank 7% in three days and ended a volatile week down 6.5%. Tech highfliers like Google, Apple and RIM lead the retreat, dropping sharply for three straight days.

  Sprint and Clearwire scrapped a pact to build a nationwide high-speed wireless network based on WiMax. Clearwire shares plunged 25%.

  Sony CEO Stringer said the Blu-ray disc format is in a "stalemate" with the competing HD DVD format in the battle to become the successor to the DVD.

  Germans and Brits lined up to buy the iPhone as Apple's pricey handset made its European debut. T-Mobile said it had sold 10,000 iPhones in Germany so far.

  Leap Wireless said it will restate financial statements for fiscal 2004, 2005, 2006 and the first two quarters of 2007 to correct for errors in recorded revenue and operating expenses.

  IAC/InterActive launched a comedy news site in partnership with the Huffington Post, part of its broader push into online media and entertainment.