NEW YORK (AP) \u2014 Stocks wavered to a mixed close on Wall Street as losses for several tech giants including Microsoft weighed on the market. The S&P 500 fell 0.1% on Wednesday, even though more stocks rose than fell within the index. The Dow added 0.4%, and the Nasdaq composite fell 0.4%. Another decline in oil prices helped ease concerns about inflation. Brent crude dropped 3.8%, bringing it closer to where it was before the war with Iran started. Treasury yields fell in the bond market. Google parent Alphabet fell. The company will replace Verizon in the Dow next week.<\/p>\n
THIS IS A BREAKING NEWS UPDATE. AP\u2019s earlier story follows below.<\/p>\n
NEW YORK (AP) \u2014 Stocks wavered in afternoon trading on Wall Street Wednesday as big technology stocks slipped and weighed on the broader market.<\/p>\n
The S&P 500 fell 0.3%. The Dow Jones Industrial Average rose 235 points, or 0.5%, as of 3:19 p.m. Eastern. The Nasdaq composite fell 0.8%.<\/p>\n
Technology stocks started the day higher, helping to support the market\u2019s broader gains amid easing pressure from falling bond yields and lower oil prices. But the influential tech sector is now losing ground for a third consecutive day. Big Tech companies, especially those focused on artificial intelligence, have pricey values that give them more sway over the market\u2019s broader direction. <\/p>\n
Nvidia fell 1.2%, following a 4.1% slump on Tuesday. Micron Technology, which reports its latest results later Wednesday, fell 4.1% following its 13.2% plunge on Tuesday. Microsoft fell 1.3%.<\/p>\n
<\/p>\n \n AP AUDIO: US stocks rise as falling oil prices ease pressure on the market\n <\/p>\n Stocks edge higher as falling oil prices help take pressure off the market.<\/p>\n Google\u2019s parent company Alphabet fell 0.8%. The company is replacing Verizon in the Dow on Monday. The company\u2019s inclusion in the S&P 500 means more to investors, however, because 401(k) accounts are much more likely to include an S&P 500 index fund than anything tied to the Dow.<\/p>\n Alphabet will become the fifth Magnificent 7 company to join the Dow. The others are Apple, Amazon, Microsoft and Nvidia.<\/p>\n Technology companies, especially those with a big focus on artificial intelligence, have been behind Wall Street\u2019s record-setting run throughout the year. Analysts have warned, however, that their valuations may have become stretched.<\/p>\n