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April 20, 2021

Tech drags on stock market

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Technology companies helped drag U.S. stocks broadly lower Monday, pulling the indexes below the record highs they reached last week.

The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly by a mix of banks, energy companies and others that rely on direct consumer spending. Chipmaker Intel fell 1.7%, Capital One lost 0.9% and Valero Energy slid 2.3%. Only real estate stocks eked out a gain.


 
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