Stocks finish down as tech companies fall again [Los Angeles Times (CA)]
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Source: Los Angeles Times
Stocks finish down as tech companies fall again After a wobbly day of trading, U.S. stocks fell for the seventh time in eight days Monday as technology companies continued to slide. Industrial companies and stocks that pay high dividends rose, and the market's losses were limited relative to the steep drops it suffered last week. Stocks opened lower and repeatedly switched between small gains and losses before falling in the last hour of trading. Along with tech firms, healthcare and energy companies and retailers fell as the stocks that have led the U.S. market higher this year continued to struggle. Defense contractors L3 and Harris made the biggest gains in the Standard & Poor’s 500 index after announcing a deal to combine. Smaller companies fared better than the rest of the market and finished broadly higher. Jason Pride, chief investment officer for private clients at Glenmede, said investors expect many years of powerful profit growth from technology-oriented companies such as A
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