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Wall St loses ground, big-cap tech drags


    NEW YORK (Reuters) - U.S. stocks added to losses on Monday in choppy trade as a drag in big-cap technology shares including Google offset gains in the energy and banking sectors.

    Merck's proposed $41 billion takeover of Schering-Plough spurred optimism about deal activity, but investors worried that it underscored the broad reach of the recession, hurting even defensive sectors such as pharmaceuticals.

    Indexes had fluctuated to both sides of the break-even mark in volatile action. The Dow Jones industrial average lost 70.41 points, or 1.06 percent, to 6,556.53. The Standard & Poor's 500 Index fell 5.24 points, or 0.77 percent, to 678.14. The Nasdaq Composite Index gave up 19.00 points, or 1.47 percent, at 1,274.85.

    (Reporting by Leah Schnurr)