Tech Companies Lead US Stocks Broadly Lower

Dow ends day down 268
By Newser Editors and Wire Services
Posted Dec 2, 2019 3:16 PM CST
Tech Companies Lead US Stocks Broadly Lower
In this Nov. 14, 2019, file photo specialist James Denaro, right, works with traders at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Technology companies led stocks broadly lower, getting the market off to a weak start for the month after a strong November, the AP reports. Adobe fell 2.2% Monday and Applied Materials gave up 2.1%. Traders were focusing on more tensions between the US and China and weak reports from the US on manufacturing and construction spending. Homebuilders fell broadly after a government report showed that spending on construction projects declined unexpectedly in October. Hovnanian Enterprises slumped 6.7%. Energy companies held up well as oil prices jumped. Marathon Oil rose 2.7%. The S&P 500 fell 27 points, or 0.9% to 3,113. The Dow Jones Industrial Average lost 268 points, or 1%, to 27,783. The Nasdaq fell 97 points, or 1.1%, to 8,567. (More stock market stories.)

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