Big Tech companies sink, leading US indexes mostly lower

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Technology companies led stocks mostly lower on Wall Street in afternoon trading Thursday, as investors weighed the implications of higher interest rates as the Federal Reserve prepares to begin raising rates next year to fight inflation. The S&P 500 fell 0.7%, the tech-heavy Nasdaq slid 2.1% and the Dow Jones Industrial Average was little changed. Traders were also considering other moves by global central banks. The Bank of England became the first central bank among leading economies to raise interest rates to fight inflation. On Wednesday, the Federal Reserve announced an acceleration of its pullback of economic stimulus.