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Stocks drop, Dow down 559 Friday

Technology and health care stocks led the way lower

December 07, 2018 - 4:07 pm

NEW YORK (AP) - Major indexes fell again as traders continue to unload stocks, extending dismal streak for the stock market.

Friday's sell-off erased 2.24% from the Dow Jones Industrial Average, bringing its weekly drop to more than 1,000 pts.

Technology and health care stocks led the way lower. Microsoft fell 3.4 percent.

Traders have been dumping stocks this week as doubts emerged about how much progress had been made on defusing trade tensions between the U.S. and China.

News that a prominent Chinese tech executive had been arrested at Washington's request suggested those tensions could get worse.

Energy companies led the gainers as crude oil prices rose on news that OPEC members agreed to cut production next year.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.

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