News Summary

• After initially soaring toward what seemed like its best day since May, the S&P 500 erased all of it and fell 1.6%.
• The Dow Jones Industrial Average dropped 386 points, or 0.8%, and the Nasdaq composite sank 2.2%.
• The sharpest losses again hit what used to be the market’s biggest winners.
• Bitcoin dropped below $87,000, down from nearly $125,000 last month.
• On the winning side of Wall Street was Walmart, which rallied 6.5%.