Stocks lose ground as more earnings roll in; yields rise

A broad slide on Wall Street reversed two days of gains for stocks Wednesday, as Treasury yields climbed to multiyear highs, tempting traders with higher returns on relatively low-risk investments.

The pullback came as investors reviewed a mix of quarterly reports from several companies. Netflix and United Airlines rose sharply after releasing their quarterly results, while others, including Abbott Laboratories and M&T Bank, sank.

Major indexes rose in the early going, but their gains faded fast. The S&P 500 fell 0.7%, the Dow Jones Industrial Average slipped 0.3% and the Nasdaq composite ended 0.9% lower. Small companies fell more than the rest of the market, sending the Russell 2000 index 1.7% lower.