Stocks Lose Ground as More Earnings Roll In; Yields Rise

A street light brightens a Wall Street sign outside the New York Stock Exchange in New York on Oct. 3, 2022. Bebeto Matthews/AP Photo

A broad slide on Wall Street reversed two days of gains for stocks Wednesday, as Treasury yields climbed to multiyear highs, tempting traders with higher returns on relatively low-risk investments.

The pullback came as investors reviewed a mix of quarterly reports from several companies. Netflix and United Airlines rose sharply after releasing their quarterly results, while others, including Abbott Laboratories and M&T Bank, sank.