Stocks open lower on Wall Street, pulled down by Big Tech

Stocks are falling at the open on Wall Street Friday, following European and Asian markets lower as leaders of the Group of 20 large and fast-growing economies meet in Rome to confront a faltering recovery

TOKYO -- Stocks are falling at the open on Wall Street Friday, following European and Asian markets lower as leaders of the Group of 20 large and fast-growing economies meet in Rome to confront a faltering recovery. Some Big Tech stocks were dragging major indexes off record highs set earlier in the week. The S&P 500 was down 0.4% in the first minutes of trading. Amazon is down 4.9% and Apple fell 3.5%. Investors also focused on a raft of macroeconomic data, including a surge of inflation last month and slowing consumer spending. Exxon Mobile bucked the trend, rising nearly 1%.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Global shares were mostly lower on Friday despite the latest rally on Wall Street.

France's CAC 40 lost 0.4% in early trading to 6,774.23, while Germany's DAX dipped 0.8% to 15,575.63. Britain's FTSE 100 shed 0.4% to 7,218.11. The future for the Dow industrials was 0.2% lower at 35,531.00. The future for the S&P 500 was down 0.5% at 4,563.75.