Dow Flat But Big Tech Continues To Struggle While Energy Stocks Add To Gains

Dow Flat But Big Tech Continues To Struggle While Energy Stocks Add To Gains

Topline

The booming technology trade that has lifted stocks to new highs during the pandemic continues to unravel Wednesday as inflation concerns rattle the market despite a strong resurgence among hard-hit energy firms.

Amazon founder Jeff Bezos speaks after receiving the 2019 IAF Excellence in Industry Award in ... [+] Washington, DC on October 22, 2019.



AFP via Getty Images

Key Facts





Shortly after the market open, the Dow Jones industrial average ticked down 60 points, or 0.2%, while the S&P 500, which broke a five-day losing streak on Tuesday, and the tech-heavy Nasdaq fell 0.3% and 0.5%, respectively.





Energy firms continued to head up market gains Wednesday, with Cabot Oil & Gas Corp and Entergy climbing 6% and 2%, respectively; the S&P 500 Energy Index has soared 27% this year–more than double the return of any other sector over the same period.







Technology stocks, on the other hand, continued to slip: Apple, Amazon and Alphabet all fell about 1% Wednesday morning.





Elsewhere in the market, Tesla rival