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Stocks edge lower on Wall Street, pulled down by Big Tech

The benchmark S&P 500 had more gainers than losers, but big technology stocks were falling and weighing down the broader market. A mix of companies that rely on direct consumer spending also fell and offset gains elsewhere.

October 29, 2021 / 08:22 PM IST

Stocks edged lower in morning trading on Wall Street Friday, pulling major indexes back from record highs as investors review the latest round of corporate earnings.

The S&P 500 fell 0.3% as of 10:16 a.m. Eastern. The Dow Jones Industrial Average fell 23 points, or 0.1%, to 35,703 and the Nasdaq fell 0.5%. The indexes remain on track to notch a weekly gain.

The benchmark S&P 500 had more gainers than losers, but big technology stocks were falling and weighing down the broader market. A mix of companies that rely on direct consumer spending also fell and offset gains elsewhere.