U.S. stocks fell sharply Thursday as losses for Cisco Systems hurt technology companies while Wal-Mart declined after its latest quarterly report. Banks also dropped as bond yields and interest rates sank for a second day.
The Standard & Poor's 500 index gave up 38.10 points, or 1.5 percent, to 2,430.01.
The Dow Jones industrial average shed 274.14 points, or 1.2 percent, to 21,750.73.
The Nasdaq composite skidded 123.19 points, or 1.9 percent, to 6,221.91.
The Russell 2000 index of smaller-company stocks lost 24.59 points, or 1.8 percent, to 1,358.94.
For the week:
The S&P 500 is down 11.31 points, or 0.5 percent.
The Dow is down 107.59 points, or 0.5 percent.
The Nasdaq is down 34.64 points, or 0.6 percent.
The Russell 2000 is down 15.29 points, or 1.1 percent.
For the year:
The S&P 500 is up 191.18 points, or 8.5 percent.
The Dow is up 1,988.13 points, or 10.1 percent.
The Nasdaq is up 838.80 points, or 15.6 percent.
The Russell 2000 is up 1.81 points, or 0.1 percent.