Governor Charlie Baker vetoed spending on the courts, child care for low-income families, and homelessness services Friday, arguing that a flat stock market has forced the state to tighten its belt.

The governor’s vetoes and other trims totaled $412 million, another dash of austerity in an already tight budget season.

Baker, speaking to reporters Friday, cast the cuts as part of a larger effort to impose fiscal discipline on Beacon Hill since he took office 18 months ago.

“We believe the progress we’ve made is considerable,’’ he said, flanked by Lieutenant Governor Karyn Polito and his budget chief, Kristen Lepore.

The governor released his vetoes late Friday afternoon, and many lawmakers and advocates were still evaluating them into the evening.

But Libby Hayes, executive director of Homes for Families, said she was worried about cuts to a housing voucher program that has been instrumental in reducing the number of homeless families living in hotels and motels.

“It’s concerning,’’ she said, “to see a cut in housing when we have such a big homelessness crisis.’’

Administration officials downplayed Baker’s $2.4 million reduction to the $83 million program, saying the state generally does not spend the full amount allotted to the program anyhow.

Susan Elsen, a staff attorney with Massachusetts Law Reform Institute, decried a $9 million cut to child care programs for families on welfare or involved with the Department of Children and Families.

“I can tell you that child care is desperately needed for both populations,’’ she wrote in an e-mail. “Without child care, it can be very challenging for struggling families to maintain the progress they’ve made towards keeping their children safe at home.’’

Administration officials said they believe the Legislature overestimated the number of families who will require the services and allotted more money than was necessary.

Spokesmen for the House and Senate’s budget-writing committees said Friday that they were still reviewing the governor’s vetoes and did not have any comment.

The Legislature has the power to override the vetoes in the coming weeks. And if history is any guide, the body will restore millions of dollars in funding.

Baker vetoed about 500 of the 600 so-called “earmarks’’ in the state budget, including $75,000 for AHA!, a cultural night in downtown New Bedford, and $50,000 for the 3ooth anniversary celebration for the town of Westborough.

One major reason for the state’s budget woes is that a flat stock market has crimped capital gains tax revenue.

Last month, Baker administration officials said overall tax revenue for the fiscal year starting July 1 could come in at $650 million to $950 million less than anticipated.

The House and Senate had already approved dueling versions of the annual budget at that point, and had to factor the new projections into the compromise spending plan they were hammering out.

The final $39.1 billion spending plan on which they agreed used a series of financial maneuvers to address the problem.

Lawmakers assumed that fewer low-income people would be using the state’s sprawling Medicaid program, for instance. And they pushed payment of some Medicaid bills into the following fiscal year in a practice known, euphemistically, as “cash management.’’

Some of Baker’s efforts to shore up the budget are likely to face resistance. One of his vetoes, for instance, would effectively hike the contributions that veteran state employees make to their health insurance plans, putting them on par with the contributions newer employees make.

Elsewhere, the governor looked to spread the pain, trimming 1 percent, for instance, from budgets for the courts, the attorney general’s office, and district attorneys’ offices across the state.

David Scharfenberg can be reached at david.scharfenberg@globe.com.