US STOCKS-Tech sell-off weighs on Wall St as Powell warns on recovery

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* Powell says economic recovery far from complete
* Fiscal stimulus talks to continue on Tuesday
* BioNTech jumps on rolling EU review of vaccine candidate
* Indexes: Dow up 0.10%, S&P off 0.06%, Nasdaq down 0.26%

(Updates to early afternoon)
By Devik Jain and Sagarika Jaisinghani
Oct 6 (Reuters) - The S&P 500 and the Nasdaq retreated on
Tuesday as Federal Reserve Chair Jerome Powell warned the U.S.
economic recovery remained far from complete, with a selloff in
some of the biggest technology companies also weighing on
sentiment.
The domestic rebound could still slip into a downward spiral
if the coronavirus is not effectively controlled and growth
sustained, Powell said. "Markets are worried about what the Fed knows that we don't
know," said John Augustine, chief investment officer at
Huntington National Bank in Columbus, Ohio.
"The things that are obvious to us are that small businesses
are closing and unemployment remains high in the services
sector. The Fed aggressively wants to address both of those with
more fiscal stimulus."
Comments from officials that a stimulus deal was still
possible had lifted the three main stock indexes on Monday,
helping them recoup losses from last week that were sparked by
news that President Donald Trump had contracted COVID-19.
Trump said on Tuesday he felt "real good" upon returning to
the White House after a three-day hospital stay where he
received an experimental treatment for the disease. Six of the 11 major S&P sectors were up, with the battered
energy index .SPNY tracking a 2% jump in oil prices. O/R
A rotation into value-linked sectors .IVX such as
industrials .SPLRCI helped boost the blue-chip Dow, but the
Nasdaq slipped further away from record highs following a dip in
shares of heavyweight technology mega-caps.
Amazon.com Inc AMZN.O , Apple Inc AAPL.O , Facebook Inc
FB.O and Google-owner Alphabet Inc GOOGL.O fell between 0.8%
and 1.6% after news about a U.S. House of Representatives'
antitrust report containing a "thinly veiled call to break up"
the companies. Declines in their share prices led the S&P 500 growth index
.IGX down 0.4%.
"When you're in bubble territory with higher volatility, the
market is very much driven by sentiment," said Matt Hanna,
portfolio manager at Summit Global Investments.
"The sentiment has shifted a little bit, it's not nearly as
bullish as it was just a couple months ago."
At 12:37 p.m. ET, the Dow Jones Industrial Average .DJI
was up 0.10%, the S&P 500 .SPX was down 0.06%, and the Nasdaq
Composite .IXIC was down 0.26%.
A 1.2% jump helped the S&P banking subindex .SPXBK
outperform the benchmark index as U.S. long-dated Treasury
yields climbed to four-month peaks. US/
Boeing Co BA.N fell 3.0% after the planemaker cut its
rolling 20-year forecast for airplane demand due to the fallout
from the COVID-19 pandemic. U.S.-listed shares of BioNTech BNTX.O jumped 8.0% after
the European health regulator said it had started a real-time
review of the COVID-19 vaccine being developed by the German
biotech firm and U.S. drugmaker Pfizer Inc PFE.N . Pfizer's
shares dipped 0.1%. Shares of audio device makers Sonos Inc SONO.O and
Logitech LOGN.S fell 6.8% and 5.1%, respectively, after their
speakers were removed from Apple's online stores. Advancing issues outnumbered decliners almost 2-to-1 on the
NYSE and the Nasdaq.
The S&P index recorded 25 new 52-week highs and no new low,
while the Nasdaq recorded 97 new highs and nine new lows.