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 percent, the Dow Jones Industrial Average slipped 0.3 percent and the Nasdaq composite ended 0.9 percent lower. Small companies fell more than the rest of the market, sending the Russell 2000 index 1.7 percent lower….