Stock Market Today: More Drops for Big Tech Pull Wall Street Nearly 10 Percent Below Its Summertime High

Stock Market Today: More Drops for Big Tech Pull Wall Street Nearly 10 Percent Below Its Summertime High
Traders work on the floor at the New York Stock Exchange in New York, on Oct. 4, 2022. Seth Wenig/AP Photo
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NEW YORK—Wall Street tumbled Thursday, dropping nearly 10 percent below its high mark for the year, after big-name companies warned an uncertain global economy may hurt their profits.

The S&P 500 fell 1.2 percent for its ninth drop in 11 days and touched its lowest level in five months. Another steep fall for Big Tech dragged on the market, sending the Nasdaq composite to a market-leading loss of 1.8 percent, while the Dow Jones Industrial Average sank 251 points, or 0.8 percent.