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December 2, 2016

Oil, banks up, but tech stocks dive

NEW YORK (AP) — Technology companies plunged Thursday, and high-dividend stocks also took hefty losses as bond yields rose to their highest level in more than a year. But more big gains for blue-chip banking and oil stocks pulled the Dow Jones industrial average to a record high.

Big names like Facebook and Oracle fell as technology companies took their biggest losses in two months. Rising bond yields pushed income-seeking investors away from real estate and utility companies. Health care stocks also slumped.


 
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