Stock Market Today: Wall Street Wilts as Yields Rise Ahead of Speech by Federal Reserve’s Powell

Stock Market Today: Wall Street Wilts as Yields Rise Ahead of Speech by Federal Reserve’s Powell
People pass the front of the New York Stock Exchange in New York on March 21, 2023. Peter Morgan/AP Photo
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NEW YORK—Wall Street slumped Thursday, despite a blowout profit report from Nvidia, following some mixed reports on the U.S. economy.

The S&P 500 dropped 1.3 percent for its worst loss in three weeks. It nearly wiped out its gain for the week, which had been a bright spot in what’s been a rough August.