Tech stocks drag down US indexes

Tuesday, December 03, 2019

Technology stocks were the biggest drag on the US market Monday.

Many of the companies in that sector rely on China for sales and supply chains and can become very volatile with new developments in trade negotiations. Adobe fell by 2.2 percent and Microsoft slid by 1.2 percent.

Industrial and communication services companies also moved lower. Honeywell shed 2.4 percent and Netflix dropped by 1.5 percent.

Energy stocks held up the best as oil prices climbed. Halliburton gained by 1.4 percent.