Weakness in tech stocks pulls Wall Street back from records

Friday, July 23, 2021, Vol. 45, No. 30
The Associated Press

Stocks closed lower on Wall Street, pulling major indexes back slightly from the records they set a day earlier.

Weakness in big technology companies was the biggest factor for the decline Tuesday.

The S&P 500 fell 0.5% while the tech-heavy Nasdaq fell 1.2%.

Markets have been choppy as investors try to get a clearer picture of how well the economy is recovering from the pandemic and when the Federal Reserve will eventually ease up on its support for the economy.

The central bank will release its latest report on Wednesday. The yield on the 10-year Treasury note fell to 1.24%.