NEW YORK (AP) - Investors dumped high-flying technology and biotech companies and sent the stock market down for a third straight day Wednesday.
Major indexes drifted lower in early trading, following news that orders for long-lasting U.S. goods sank last month. The selling gathered strength in the afternoon, with companies like Avago Technologies and Skyworks Solutions losing the most.
The Standard & Poor's 500 index lost 30.45 points, or 1.5 percent, to 2,061.05. The Dow Jones industrial average fell 292.60 points, or 1.6 percent, to 17,718.54, while the Nasdaq composite fell 118.21 points, or 2.4 percent, to 4,876.52.
It was the worst day for stocks since March 10, when speculation over the Federal Reserve's plans to raise interest rates helped knock the S&P 500 down 1.7 percent.