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AP National Business

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

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KMIZ

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Published 9:36 AM

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks edged lower in midday trading on Wall Street Friday, pulling major indexes back from record highs as investors review the latest round of corporate earnings. Big Tech stocks were the biggest drag on the broader market. The S&P 500 was down 0.1%, while the Dow Jones Industrial Average rose 0.1%. The Nasdaq fell 0.2%. Amazon and Apple are down 2.8%. The latest batch of corporate earnings raised concerns that a persistent supply chain shortage could crimp economic growth through the rest of the year. The U.S. also reported that consumer spending slowed to a gain of just 0.6% in September.

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