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North American stocks fell at the start of trading on Tuesday, weighed down by a warning from Hewlett-Packard Co. and a setback in U.S. home construction in April.

The Dow Jones industrial average fell 68 points or 0.5 per cent, to 12,480. The broader S&P 500 fell 6 points or 0.4 per cent, to 1324. In Canada, the S&P/TSX composite index fell 29 points or 0.2 per cent, to 13,362.

Hewlett-Packard was the top laggard within the S&P 500, falling 6.6 per cent after the computer-maker cut its outlook for 2011 and warned of a tough current quarter, amid soft computer sales. Other technology stocks followed, with Microsoft Corp. down 0.9 per cent and Intel Corp. down 1.3 per cent.

Meanwhile, commodity producers also fell after crude oil and gold prices retreated. Suncor Energy Inc. fell 0.8 per cent and Chevron Corp. fell 1.4 per cent after oil dipped below $97 a barrel. Barrick Gold Corp. fell 0.5 per cent after the price of gold fell to $1,485 (U.S.) an ounce, down $6.

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