Stock Market Today: Wall Street Buckles Under Higher Bond Yields as Dow Wipes Out Gain for the Year

Stock Market Today: Wall Street Buckles Under Higher Bond Yields as Dow Wipes Out Gain for the Year
Trader John Conlon works on the floor of the New York Stock Exchange on Oct. 3, 2023. Richard Drew/AP Photo
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NEW YORK—Wall Street fell sharply Tuesday as it focused on the downside of a surprisingly strong job market.

The S&P 500 dropped 1.4 percent to its lowest point in four months. The Dow Jones Industrial Average tumbled 430 points, or 1.3 percent and wiped out the last of its gains made for the year so far. Some of the heaviest losses came from Big Tech stocks, which sent the Nasdaq composite to a market-leading loss of 1.9 percent.