S&P 500, Nasdaq fall as tech slides and inflation concerns weigh

By April Joyner

NEW YORK (Reuters) – The S&P 500 and the Nasdaq fell on Wednesday as concerns about inflation pressured stocks and investors rotated out of technology shares.

The Dow Jones Industrial Average edged higher, however, aided in part by gains in shares of Verizon Communications Inc and Chevron Corp, which rose after Warren Buffett’s Berkshire Hathaway Inc disclosed major investments in the companies on Tuesday. Verizon shares climbed 5.0%, and Chevron shares advanced 2.7%.

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