Tech stocks start lower, continuing a decline

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Associated Press

Posted on April 7, 2014 at 7:02 AM

Updated Monday, Apr 7 at 7:02 AM

NEW YORK (AP) — Stocks are starting out the week the same way they ended the last one — down.

Technology stocks fell broadly in early trading Monday, continuing a decline from last week as investors dump once high-flying stocks. Google and Facebook, which soared over the past year, were among the early losers.

The tech-heavy Nasdaq composite fell 37 points, or 0.9 percent, to 4,089 in the first few minutes of trading.

The Standard & Poor's 500 index lost 10 points, or 0.6 percent, to 1,854. The Dow Jones industrial average fell 65 points, or 0.4 percent, to 16,343.

Procter & Gamble edged up 0.7 percent following news that the maker of Tide laundry detergent raised its quarterly dividend.

Bond prices rose. The yield on the 10-year Treasury fell to 2.70 percent.

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