U.S. Stocks Decline as Tech Losses Offset Energy Rally

The Standard & Poor’s 500 Index tumbled, lashing investors with the biggest stock swings in two months, as companies from Microsoft Corp. to Google Inc. led a selloff in technology shares that overshadowed gains in oil producers.

The S&P 500 fell 0.9 percent to 1,972.74 at 4 p.m. in New York, dropping below its average price for the past 100 days. The Nasdaq 100 Index tumbled 1.6 percent, the most in two months, and S&P 500 technology shares slumped to the lowest since Oct. 30. The Dow Jones Industrial Average dropped 111.97 points, or 0.7 percent, to 17,068.87. More than $9.3 billion shares changed hands on U.S. exchanges, the most since Oct. 16.