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Stocks Drop From Record Highs; Bond Yields Rise: Markets Wrap

  • Investors assess earnings from some of the largest banks
  • Bitcoin slumps after Coinbase makes debut on the Nasdaq
Bloomberg business news
WATCH: Goldman Sachs reported record first quarter results.Source: Bloomberg
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U.S. stocks retreated after climbing to an all-time high. Treasuries fell with the dollar. Oil rallied.

PayPal Holdings Inc. and Nvidia Corp. paced losses among tech companies in the S&P 500, which had fluctuated for much of Wednesday’s session as traders sifted through earnings from some of the world’s biggest banks. Bitcoin slid in the wake of the debut by cryptocurrency company Coinbase Global Inc. on the Nasdaq.