Original title: US Stocks Drop as Tech Rout Deepens, Hurt by Climbing Yields
US stocks fell on Tuesday, extending losses from Friday as Big Tech names declined and yields on 10-year Treasuries advanced, pressured by Bloomberg Terminal mounting corporate issuance. The S&P 500 Index touched a session low, dropping 1.5% at 12:05 p.m. in New York, with all but one of 11 industry groups declining, led by technology firms. The Nasdaq 100 Index lost 1.8%, while a gauge of Magnificent Seven companies slid 2.3%. The Cboe VIX Index rose to near 20. The 10-year Treasury yield rose to 4.28%.