Tech stocks drive major indexes down

Technology stocks led U.S. indexes broadly lower on Wall Street, outweighing gains for energy producers and other companies. Facebook and chipmaker Nvidia each lost 4.5 percent Monday. Retailers were also lower. Amazon lost 1.6 percent.

Energy companies rose along with the price of crude oil. Marathon Oil gained 3.1 percent. The Standard & Poor’s 500 fell 5 points, or 0.2 percent, to 2,496. The Dow Jones industrial average lost 53 points, or 0.2 percent, to 22,295. The Nasdaq composite declined 56 points, or 0.9 percent, to 6,370.

Small-company stocks held up better than the rest of the market. The Russell 2000 index edged up 1 point to 1,451, another record high. Bond prices rose. The yield on the 10-year Treasury note fell to 2.22 percent.

The Nasdaq 100 Index posted its steepest loss in five weeks, with the FANG cohort of megacaps leading declines. Small-cap shares fared better as investors continued to rotate into the year’s laggards. Haven assets advanced after North Korean Foreign Minister Ri Yong-Ho described President Donald Trump’s recent comments as tantamount to a declaration of war.

Ri, speaking in New York Monday, also declared that North Korea can shoot down U.S. warplanes as part of its right to selfdefense under the United Nations charter, adding to weeks of rhetoric that has intermittently rattled financial markets. U.S. markets also kept an eye on the latest domestic political developments, with the most recent effort to overhaul the health-care system on life support and a Republican tax proposal still lacking details.

Elections dominated trading overseas. The Stoxx Europe 600 Index climbed, and the euro weakened after Chancellor Angela Merkel won Germany’s election, while the country’s main far-right party had a surprisingly strong result. The process of building a new government could take weeks, so markets may well move on from the result quickly.