Why is the stock market down today? [Video]

NEW YORK — U.S. stocks fell Wednesday as more steam came out of Wall Street’s huge, record-breaking rally.

The S&P 500 sank 0.9% for its first three-day losing streak since early September. It was coming off two small losses since setting an all-time high on Friday, and the pullback follows a superb run where the index had rallied to six straight winning weeks, its longest such streak of the year.

The Dow Jones Industrial Average dropped 409 points, or 1%, while the Nasdaq composite tumbled 1.6% after Nvidia and other Big Tech stocks were among the market’s heaviest weights.

Momentum has reversed for stocks this week as pressure has increased from rising Treasury yields. Higher yields can make investors less willing to pay high prices for stocks, which critics say already look too expensive after …