NEW YORK (AP) — Stocks fell, taking some air out of Wall Street’s big recent rally, despite fatter-than-expected profit reports from big companies and the latest signals of a resilient economy. The S&P 500 fell 0.6% Thursday after touching its highest level in nearly 16 months during the morning. The Dow dropped 237 points, or 0.7%, and the Nasdaq fell 0.5%. Critics have been saying the market’s big recent rally has been too much, too fast and that rising expectations for a continued cooldown in inflation are not a certainty. Strong reports on the economy pushed yields higher in the bond market.
Stock market today: Wall Street’s rally runs out of gas as bond yields jump
