The S&P 500 fell on Thursday as surging Treasury yields weighed on most of the market along with a blockbuster earnings report from Micron Technology.
The Dow Jones Industrials slid 242.35 points to 50,663.70.
The much-broader index went lower 17.48 points to 7,634.06.
The NASDAQ Composite stumbled 25.07 points to 26,835.99.
Micron posted blockbuster earnings with revenue quadrupling last quarter. However, the stock failed to catch a bid having already risen more than 200% this year. Shares were down 3%.
Tech shares led the broader market in September as a majority of stocks in the benchmark declined. That pattern held early Wednesday with most stocks outside of technology weaker or flat
Prices for the 10-year Treasury lost ground, putting yields up to 5.32% from Wednesday’s 5.29%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.25 to $91.67 U.S. a barrel.
Gold prices acquired 90 cents to $4,187.60 U.S. an ounce.
