Virtually all of the stocks registering the biggest losses on the NASDAQ Exchange were Internet-related. Of them, the ten biggest decliners all shed more than $30 a share. Which led to the inevitable question: has the Internet stock bubble finally burst?

The experts were quick to respond with a definitive, "No." At least not yet. As Internet stocks suffer a series of rough trading days sending some shares more than $100 below recent highs, most analysts are gingerly sticking to their standard explanation that volatility is to be expected. They are urging investors not to lose faith -- or their stomachs.

"This isexactly what has happened every other quarter for the past eight quarters without fail," said BancBoston Robertson Stephens analyst Keith Benjamin. He said investors typically buy these stocks ahead of earnings reports, only to sell once the numbers however positive come out. The only difference this time around, say many analysts, is that stocks have risen to such high levels that even normal sell-offs look stupendous.