Spike in Bond Yields Spooks Investors, Deflates Tech Stocks

Spike in Bond Yields Spooks Investors, Deflates Tech Stocks
The New York Stock Exchange is seen in New York City on Nov. 23, 2020. Seth Wenig/AP Photo
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Technology companies led a broad slide in stocks on Wall Street Tuesday, deepening the market’s September swoon.

The S&P 500 fell 2 percent, its worst drop since May. The tech-heavy Nasdaq dropped 2.8 percent, its biggest drop since March. Decliners outnumbered advancers on the New York Stock Exchange 4 to 1.