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U.S. stocks are sinking again, and technology companies are taking some of the biggest losses.

Microsoft lost 2.3 per cent Monday and Apple gave up 1.6 per cent.

Energy companies were falling in tandem with the price of crude oil. Marathon Petroleum gave up 2.8 per cent.

Stocks in Europe dropped after Italy’s new deputy premier said the government won’t deviate from its plan to increase spending. Italy’s main stock index dropped 2.3 per cent and the yields on its government bonds rose sharply.

The Standard & Poor’s 500 index fell 21 points, or 0.7 per cent, to 2,865.

The Dow Jones Industrial Average lost 207 points, or 0.8 per cent, to 26,234. The Nasdaq composite fell 110 points, or 1.4 per cent, to 7,677.

U.S. bond trading was closed for Columbus Day. Canadian markets were closed for Thanksgiving.

The Associated Press

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