Ingram Micro & Dell Warn Of IT Meltdown

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"It sounds like things are really starting to slip everywhere. Both consumer and corporate end-demand are slowing. The question is how long it lasts," said Cross Research analyst Shannon Cross to the UK's Guardian newspaper.

And Dell said it seeing a further softening in global end-user demand, with that demand "not rebounding in September as it normally did".

As for Ingram Micro, the world's biggest computer products distributor, it has cut its third-quarter profit and revenue outlook, saying economic softness in July and August was continuing into September and "pressuring operating margins", according to the Guardian report.

In Australia, according to one local IT vendor, the effects of a slowdown have been felt for some time now, regardless of what else is happening on Wall Street.

Steve Rust, the MD of Panasonic noted that, "due to the continually rising interest rates, corporate IT spend has been down for a while".