Stocks open broadly lower on Wall Street, led by Big Tech
Stocks are pulling back broadly in the early going on Wall Street, taking the S&P 500 further below the record high it reached just two days ago.
The benchmark index was off 1.4% in the first few minutes of trading Wednesday. Big Tech stocks posted some of the biggest declines, with the exception of Microsoft, which reported impressive quarterly results late Tuesday.
European markets were down even more, and Asian markets finished mixed overnight. Treasury yields were little changed.
Traders will be looking ahead to the Federal Reserve’s latest policy meeting, which wraps up later Wednesday.
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