Last Updated: February 19th, 2009: 5:05 PM ET---The major US equity indices initially opened higher as investors hoped that a mixed batch of economic data and a disappointing forecast from Hewlett-Packard (NYSE:HPQ) could be ignore, however as the day came to an end so did investors' optimism and the indices closed with significant losses. The Dow Jones Industrial Average ended the session off 1.2% to 7,466, its lowest close since October of 2002 and below its previous bear market low reached on November 20th. Once again Bank of America (NYSE:BAC) and Citigroup (NYSE:C) were the industrial's laggards, both closing almost 14% lower. Hewlett-Packard (NYSE:HPQ) also showed notable weakness, closing off 7.9% after missing estimates and scaled backed guidance. The S&P 500 also closed off 1.2% to 779. However, the tech-heavy Nasdaq, weighed upon by Hewlett's performance, turned in the worst loss, closing 1.7% lower to 1,443. Technology shares and financials were the day's worst performing sectors, closing off 3.2% and 4.7%, respectively.

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