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The drops for Big Tech stocks also pulled the Nasdaq composite down 2% from its own record. The drops broke seven-day winning streaks for both the S&P 500 and Nasdaq composite. The Dow Jones Industrial Average, which has less of an emphasis on tech, rose 32 points, or 0.1%. Wall Street wants lower interest rates to release pressure that’s built up on the economy because of how expensive it’s become to borrow money toWall Street saw Thursday’s report, which showed milder price increases than expected from a year earlier for gasoline, cars and other things U.S. consumers bought during June, as providing just that.
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