Major technology stocks lead another decline on Wall Street

The Associated Press

Technology stocks are leading another decline on Wall Street in early trading Friday, putting the Nasdaq on track for its third weekly drop in the last four. The tech-heavy index was down 1.2% in the early going, bringing its weekly drop to 4%. The benchmark S&P 500 and the Dow Jones Industrial Average, which measures 30 blue-chip stocks, were both down 1%. European markets were lower, and Asian markets closed mostly lower overnight. After pushing the S&P 500 to a record high last week, investors have been taking money off the table as the Federal Reserve moves to dial back stimulus and fight inflation.