US Stocks Slip as Tech Sector Slumps

A selloff in the technology sector deepened Friday, but the Dow Jones Industrial Average and the SP 500 hung on to post monthly gains in April.

The tech-driven declines sent stocks to their worst weekly loss since February, leading some analysts and traders to question whether the trajectory of the overall market could be shifting after a 2½-month rally.

On the one hand, the price of U.S.-traded oil has climbed above $45 for the first time since November, buoying shares of energy companies. On the other, the tech sector, which has the largest sector weighting in the SP 500, posted its second consecutive week of sharp losses.

A string of disappointing quarterly results from high-profile tech companies, including Microsoft

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