Tech stocks tank as sales growth forecasts wither

What little confidence investors had in tech stocks eroded further today.

Shares of Intel Corp. (NASDAQ: INTC) and Hewlett-Packard Co. (HPQ) got crushed along with many other big-cap tech stocks after analysts from Morgan Stanley said the sector was the most vulnerable among economically sensitive industries. The tech-heavy NASDAQ Composite Index fell 3.7 percent. Even other tech stalwarts such as Google Inc. (GOOG) and International Business Machines Corp. (IBM), which have performed well this year, declined in the brutal sell-off.

For technology investors, there is plenty to worry about.