The Journal Gazette
Monday, December 02, 2019 4:30 pm

Tech companies lead stocks broadly lower

Associated Press

NEW YORK -- Technology companies led stocks broadly lower, getting the market off to a weak start for the month after a strong November.

Adobe fell 2.2% Monday and Applied Materials gave up 2.1%.

Traders were focusing on more tensions between the U.S. and China and weak reports from the U.S. 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.

Bond prices fell. The yield on the 10-year Treasury rose to 1.82%.


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