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Tech shares lead US stocks lower, Facebook down 4.9 pct

The tech-rich Nasdaq Composite Index suffered the biggest losses of the major indices, ending down 2.1 percent at 14,255.48.

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Tech shares endured another ugly session Monday on worries about Washington’s unsettled spending and budget debates and lackluster expectations for the upcoming earnings season.

The tech-rich Nasdaq Composite Index suffered the biggest losses of the major indices, ending down 2.1 percent at 14,255.48.

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The Dow Jones Industrial Average shed 0.9 percent to 34,002.92, while the broad-based S&P 500 tumbled 1.3 percent to 4,300.46.

Facebook dropped 4.9 percent after its namesake program and Instagram and WhatsApp were all hit by a massive outage.

Petroleum-linked companies enjoyed a far better day than the broader market, with ConocoPhillips winning 2.0 percent and Devon 5.3 percent on surging oil prices.

An exception was Amplify Energy, which plunged more than 40 percent as the cause of a large oil spill in California that is killing wildlife and threatening beaches in the nation's most populous state.

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