US STOCKS FALL FROM RECORDS; TECH STOCK RETREAT

US stocks followed other equities markets lower on Tuesday, with major indexes pulling back from record highs as soft auto sales raised doubts about the US economy, while the dollar fell from an 11-year peak versus a basket of currencies.Technology stocks fell as investors took profits a day after the Nasdaq hit the 5,000 milestone for the first time since the peak of the dot.com bubble in March 2000.
Microsoft Corp weighed most on the Nasdaq and S&P 500 with an 1.4 per cent drop to $43.28, followed by a 2.2 per cent decline in shares of Cisco Systems, which gave back most of Monday's gains.
The S&P 500 technology sector finished down 0.8 per cent.
The biggest percentage decliners in the S&P 500 were Micron Technology, down 5 per cent to $29.66, and Applied Materials, which fell 4.5 per cent to $24.48.
The Dow Jones industrial average fell 85.26 points or 0.47 per cent to 18,203.37, the S&P 500 lost 9.61 points or 0.45 per cent to 2,107.78 and the Nasdaq Composite dropped 28.20 points or 0.56 per cent to 4,979.90.
Declining issues outnumbered advancing ones on the NYSE by 1,810 to 1,249, for a 1.45-to-1 ratio; on the Nasdaq, 1,784 issues fell and 948 advanced, for a 1.88-to-1 ratio favouring decliners.
The dollar retreated from an 11-year high against a group of six currencies after a top Japanese economic official said the greenback could not sustain more gains. The dollar index was last down 0.05% at 95.415, while the dollar was down 0.35% at 119.715 yen.
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