The stock market started the New Year on a sour note.
Stocks slumped on the first day of trading in 2014 as energy and technology companies pulled down the market. Energy companies fell as the price of oil dropped amid expectations on more supply and as the dollar appreciated against other currencies. Technology stocks lost ground after analysts published gloomy notes on companies in the sector.
The Dow Jones industrial average fell 135.31 points, or 0.8 percent, to 16,441.35.
The Standard & Poor's 500 index declined 16.38 points, or 0.9 percent, to 1,831.98.
The Nasdaq composite fell 33.52 points, or 0.8 percent, to 4,143.07.
For the week:
The Dow is down 37.06 points, or 0.2 percent.
The S&P 500 is down 9.42 points, or 0.5 percent.
The Nasdaq is down 13.52 points, or 0.3 percent.
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