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Tech stocks weigh as US market pulls back from its latest all-time high
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Stocks are losing ground on Wall Street in afternoon trading Friday, pulling the market down from its latest all-time highs, after a closely watched measure of inflation showed prices mostly held steady last month.
The S&P 500 was down 0.8% a day after climbing to a record high. The benchmark index is set to end August up 1.8%, which would be its fourth straight month of gains.
The Dow Jones Industrial Average also came off its own record high, shedding 131 points, or 0.3%, as of 1:37 p.m. Eastern time. The Nasdaq composite was 1.3% lower.
Losses in…
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