The headlong rush into new technology stocks pulled up sharply this week, giving pause for thought to those lucky enough to get a chunk of Lastminute.com and Riverdeep.

While the leading technology index, the US Nasdaq, managed to recover from a 10 per cent loss mid-way through the week, it was not before some of the initial profits had been wiped from the new arrivals to the stock exchanges.

The correction is unlikely to put an end to the enthusiasm for new technology issues but maybe it will provide a much-needed reality check for some of the more reckless investors fuelling the Internet bubble.