Stocks Notch a Down Day on Oil Jitters
Author: Donna Kardos Yesalavich; Kristina Peterson</br></br>Stocks fell Monday as investors continued to fret over the potential impact of rising oil prices amid more turmoil in Libya, while the technology sector was also hurt by an analyst downgrade.</br></br>The Dow Jones Industrial Average dropped 79.85 points, or 0.7%, to 12090.03. Chip giant Intel was among the measure's weakest components, off 1.6%, after Wells Fargo cut its view of the semiconductor sector to "market weight" from "overweight" for the first time in more than two years. Still, the bank called the move "more an indication of a more moderate though still optimistic view of the sector rather than any active concern about the chip stocks as a group."</br></br>Boeing also weighed with a 1.3% drop after its rival, European aircraft manufacturer Airbus, said it is confident about maintaining its share of global sales of commercial aircraft and expects a continued expansion in demand in the Asia-Pacific region.</br></br>The Standard & Poor's 500-stock index shed 11.02, or 0.8%, to 1310.13, with its technology and materials sectors leading the drop. The technology-heavy Nasdaq Composite got hit even harder, down 39.04, or 1.4%, to 2745.63.