Stocks gave up an early gain and wound up broadly lower on Wall Street, led by declines in tech heavyweights like Facebook and Apple
The S&P 500 gave up 0.5% Wednesday, its second loss in a row, while the tech-heavy Nasdaq dropped 2%. Bond yields mostly fell after rising earlier this week and crude oil prices rose 6%.
GameStop had another bumpy ride, losing a third of its value after releasing a disappointing earnings report. The money-losing video game retailer is still up more than sixfold this year after becoming a favorite of online investors who talked the stock up on online message boards.
The S&P 500 fell 21.38 points, or 0.5%, to 3,889.14.
The Dow Jones Industrial Average fell 3.09 points, or less than 0.1%, to 32,420.06.
The Nasdaq fell 265.81 points, or 2%, to 12,961.89.
The Russell 2000 index of smaller companies fell 51.42 points, or 2.4% to 2,134.27.
For the week:
The S&P 500 is down 23.96 points, or 0.6%.
The Dow is down 207.91 points, or 0.6%.
The Nasdaq is down 253.34 points, or 1.9%.
The Russell 2000 is down 153.28 points, or 6.7%.
For the year:
The S&P 500 is up 133.07 points, or 3.5%.
The Dow is up 1,813.58 points, or 5.9%.
The Nasdaq is up 73.61 points, or 0.6%.
The Russell 2000 is up 159.41 points, or 8.1.%.