In midday trades on Monday, Sprint Nextel, Qwest Communications and Nokia Corp endured deep losses as telecom stocks followed the broader United States market dropping sharply lower according to a report on MarketWatch.

Apparently the figures in the mobile phone group are…Sprint Nextel dropped 13 percent while Qwest dropped in excess of 8 percent. AT&T fell 4 percent while Verizon Wireless also dropped nearly 3 percent.

Nokia, in the equipment sector, fell by more than 6 percent, Ericsson was down 5 percent, Motorola fell 4.5 percent and Alcatel-Lucent dropped 6 percent.