Stocks open broadly lower on Wall Street, led by Big Tech

The benchmark index was off 1.4% in the first few minutes of trading Wednesday. Big Tech stocks posted some of the biggest declines, with the exception of Microsoft, which reported impressive quarterly results late Tuesday. European markets were down even more, and Asian markets finished mixed overnight. Treasury yields were little changed.

Markets have meandered since last week as investors weighed solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic. The reality that President Joe Biden's $1.9 billion stimulus package won't be "rubber stamped" by the U.S. Senate is also weighing on sentiment, Jeffrey Halley of Oanda said in a report.

Tokyo's Nikkei 225 index added 0.3% to 28,635.21, while the Hang Seng in Hong Kong slipped 0.3% to 29,297.53. The Kospi in South Korea sank 0.6% to 3,122.56, while the Shanghai Composite index edged 0.1% higher to 3,573.34. In Australia, the S&P/ASX 200 lost 0.7% to 6,780.60.

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