Shares of Intel Corp., the world's largest chip maker, fell along with the broader market Monday to hit their lowest price in five years.

The stock, which is a component of the Dow Jones Industrial Average, fell 59 cents, or 3.4 percent, to $16.72 in early afternoon trading. Earlier, the stock hit $16.61, its lowest level since 2003.

Santa Clara, Calif.-based Intel's shares are down about 37 percent since the start of the year, a bigger drop than the Dow Jones industrials, which are down about 25.5 percent year-to-date.

The Dow Jones Industrial Average sank more than 500 points to below 10,000 for the first time in four years amid credit fears.

While Intel is generally considered a relatively safe bet amid the economic turmoil -- it is by far the world's largest computer chip maker -- it is not immune to a downturn and it stock price has declined amid fears that declining PC demand will mean lower demand for its semiconductors.