Stock losses mount as investors eye earnings, inflation

By DAMIAN J. TROISE
AP Business Writer

A late-afternoon sell-off wiped out gains for stocks on Wall Street Thursday and sent major indexes deeper into losing territory for the year. The S&P 500 lost 1.1% and the Dow Jones Industrial Average fell 0.9%. The Nasdaq slumped 1.3% after rising by 2.1% earlier in the day, mostly due to a reversal in technology stocks. As investors prepare for higher interest rates, shares in pricey tech companies and other expensive growth stocks look relatively less attractive. The major indexes yo-yoed between gains and losses throughout the day. Stocks are headed for weekly losses in what has so far been a losing month.