How major US stock indexes fared Wednesday, 10/25/2023

Wall Street sank back to where it was in May, pulled down by steep drops in several Big Tech companies. The S&P 500 fell 1.4% Wednesday after rising bond yields tightened their chokehold on the stock market and some of the most influential companies turned in mixed profit reports. The Dow lost 105 points, and the tech-heavy Nasdaq composite dropped 2.4%. Google parent company Alphabet fell sharply on worries about a slowdown in growth for its cloud-computing business. Amazon, Nvidia and Apple also fell. Microsoft rose after reporting stronger profit than analysts expected. Crude oil prices jumped.