NEW YORK—Wall Street fell sharply Wednesday, dropping back to where it was in May, after rising bond yields tightened their chokehold and some of the market’s most influential companies turned in mixed profit reports.
The S&P 500 tumbled 1.4 percent for its eighth drop in the last 10 days. Some of the heaviest losses hit Big Tech stocks, which dragged the Nasdaq composite to its second-worst drop of the year so far, at 2.4 percent. The Dow Jones Industrial Average fell 105 points, or 0.3 percent.
