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AP National Business

Stocks edge lower on Wall Street, led by weakness in tech

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KMIZ

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Published 9:35 AM

By DAMIAN J. TROISE
AP Business Writer

Stocks edged lower in afternoon trading on Wall Street Wednesday, pulled down by losses in big technology and communications companies. The S&P 500 fell 0.4% and the Dow Jones Industrial Average fell 0.3%. The tech-heavy Nasdaq lost 0.7%. Chipmaker Advanced Micro Devices shed 4.4%. Investors were discouraged to see a reading on inflation that came in hotter than expected, and Treasury yields rose as a result. Consumer prices rose 6.2% in October over a year ago, the highest inflation rate since 1990. DoorDash jumped after reporting surprisingly strong results. Rivian Automotive soared in its stock market debut. 

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