Stock Market Plunges as Dow Drops 300 Points in Biggest Decline in Weeks

The Dow Jones Industrial Average fell 373 points, or 1.1%, as the stock market's early gains turned into a selloff. The S&P 500 and Nasdaq Composite also experienced declines of 1.4% and 1.9% respectively. Nvidia, a chip maker, initially boosted the indexes with strong sales and earnings estimates, but gains in related stocks faded. The drop in tech stocks is attributed to rising bond yields and concerns about inflation. The market is worried that the Federal Reserve will keep short-term interest rates high, impacting the future profitability of fast-growing tech companies. Non-tech stocks are also being affected as market sentiment turns cautious about the economic outlook.