Tech stocks lead indexes lower on Wall Street; eyes on Fed

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks fell in afternoon trading on Wall Street Wednesday and bond yields rose as investors try to estimate how quickly the Federal Reserve will raise interest rates and take other steps to fight inflation. The S&P 500 fell 1%, the Dow Jones Industrial Average fell 0.4% and the Nasdaq fell 2%. Technology companies had some of the biggest losses. The yield on the 10-year Treasury rose to 2.59%. Investors will be looking closely at minutes released later in the day from the Fed’s latest policy meeting for more clues about its next steps.