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December 6, 2022

Tech leads stocks lower

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve's difficult fight against inflation.

The S&P 500 fell 1.8%, its third straight drop. The slide more than offset the index's gains last week. The Dow Jones Industrial Average dropped 1.4% and the tech-heavy Nasdaq composite slid 1.9%. Small-company stocks fell even more, sending the Russell 2000 index 2.8% lower.


 
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