Tech stocks lead Wall Street lower, breaking winning streak

Friday, August 19, 2022, Vol. 46, No. 33
The Associated Press

Technology stocks led Wall Street lower, leaving major indexes in the red for the week.

The benchmark S&P 500 index gave back 1.3% Friday, breaking a four-week winning streak. The tech-heavy Nasdaq composite fell even more. The Dow Jones Industrial Average also fell.

Meme stock Bed Bath & Beyond plunged after the high-profile activist investor Ryan Cohen confirmed that he's sold his stake in the struggling retailer.

General Motors rose after reinstating its dividend, and Foot Locker soared after replacing its CEO and reporting better-than-expected earnings.

Treasury yields rose.