Stocks fall on Wall Street, weighed down by tech losses

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks edged lower in afternoon trading on Wall Street Thursday as investors weigh the latest update from the Federal Reserve amid concerns about rising inflation. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq fell 0.5%. Technology stocks were among the biggest weights holding down the market. Retailers and other companies that rely on direct consumer spending also fell. HP soared after Warren Buffett’s Berkshire Hathaway disclosed an 11% stake in the company. Every major index is headed for a weekly loss. Crude oil prices fell and bond yields rose.