Markets Right Now: Tech companies lead stocks broadly lower

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NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

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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11:45 a.m.

Stocks are falling on Wall Street led by declines in technology and communications companies.

Nvidia fell 2.7% in midday trading Monday and Netflix lost 2.2%.

Steelmakers rose after President Donald Trump said the U.S. would impose tariffs on steel and aluminum imports from Argentina and Brazil. AK Steel jumped 7%.

Energy companies held up the best as oil prices jumped. Marathon Oil rose 2.4%.

The S&P 500 fell 21 points, or 0.7% to 3,119.

The Dow Jones Industrial Average lost 198 points, or 0.7%, to 27,853. The Nasdaq fell 87 points, or 1%, to 8,577.

Bond prices fell. The yield on the 10-year Treasury rose to 1.83%.

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9:35 a.m.

Stocks are off to a weak start on Wall Street as traders return from a holiday-shortened week.

Gains in health care and energy stocks early Monday were being offset by losses in technology and other sectors.

Bristol-Myers Squibb climbed 1.9%, while Adobe lost 1.5%.

Steelmakers rose after President Donald Trump said the U.S. would impose tariffs on steel and aluminum imports from Argentina and Brazil.

The S&P 500 slipped 7 points, or 0.2% to 3,143.

The Dow Jones Industrial Average fell 26 points, or 0.1%, to 28,022. The Nasdaq lost 36 points, or 0.4%, to 8,629.

Bond prices fell. The yield on the 10-year Treasury rose to 1.84%.

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