Tech companies lead stocks broadly lower

Technology companies led stocks broadly lower Monday, getting the market off to a weak start for the month after a strong November. (MGN)
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NEW YORK (AP) Technology companies led stocks broadly lower Monday, 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%.