NEW YORK — Stocks fell sharply Wednesday for the second time this week as investors continued to worry about how much the global economy is slowing.
Commodities such as oil and copper fared even worse than stocks. Government bonds were a big winner as money flowed in from investors seeking safety. That drove prices higher, and the yield on the 10-year Treasury note fell to its low for the year at one point.
Technology, energy and bank stocks led the market lower. Apple dropped as traders worried about iPhone sales, Bank of America slid after its earnings failed to meet up to Wall Street’s forecasts and energy stocks fell as crude oil continued a weeklong drop.
The Standard & Poor’s 500 index dropped 22 points, or 1.4 percent, to 1,553. Just one week ago the index hit an all-time high of 1,593. It’s down 2.5 percent since then.