U.S. stocks tumbled on Monday as shares of shaky technologysector and investor anxiety about the continuing debt crisis in the euro zone could jeopardize the economic recovery sparked a shift from riskier assets. The reason for decline in technology sectorstocks on Monday was not clear, but the sector is considered as themost risky in the market, and investors have been removing the risksince the price of silver began to fall more than 2 weeks ago. Shares of the health sector, utliti, closed slightly up on Monday, confirmingthe trend of disposal risks. "This is a continuation of what we see,"said Ryan Detrick, senior technical strategically at Schaeffer'sInvestment Research.
The decline in consumer sector stocks on Monday more than 1%appears to be temporal, said Doug Cote, head of strategic marketsat ING Investment Management, which estimates the sector will get a boost up from tightening monetary policy by the Federal Reserve.This sector will likely rise again when energy prices fell, andconstrained by the Fed's inflation worries, said Cote. This sector is gaining momentum from increased consumer spending, retail salesare seen at record levels, he said. "Shares of the needs of consumersector is very interesting," said Cote.
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