S&P 500 edges lower; tech, utility losses offset energy rally

The S&P 500 and Nasdaq fell in afternoon trading on Wednesday as losses in technology shares and big dividend payers, including utilities, offset sharp gains in the energy sector. News that OPEC agreed to cut production drove U.S. oil prices up 9.3 percent, causing the S&P 500 energy index to rally 5.1 percent and bond yields to jump. The S&P utility index was down 2.7 percent, while shares of AT&T fell 1.7 percent.