Wall Street fell sharply Wednesday, dropping back to where it was in May, after rising bond yields tightened their chokehold and some of the market’s most influential companies turned in mixed profit reports.

The S&P 500 tumbled 1.4% for its eighth drop in the last 10 days. Some of the heaviest losses hit Big Tech stocks, which dragged the Nasdaq composite to its second-worst drop of the year so far, at 2.4%. The Dow Jones industrial average fell 105 points, or 0.3%.

Microsoft was an outlier and rose 3.1% after reporting stronger profit and revenue for the summer than analysts expected. Its movements carry extra weight on the market because it’s the second-largest company by market value.

But Alphabet was tugging the market lower even though the parent company of Google and YouTube also reported stronger profit than expected. Its stock fell 9.5% on worries about a slowdown in growth for its cloud-computing business.

Also putting heavy pressure on the stock market was a rise in Treasury yields. The 10-year yield climbed to 4.94% from 4.82% late Tuesday, which helped to send the large majority of stocks on Wall Street lower.

All told, the S&P 500 fell 60.91 points to 4,186.77. The Dow dropped 105.45 to 33,035.93, and the Nasdaq sank 318.65 to 12,821.22. The Dow held up better than other indexes because it includes Microsoft but not Alphabet.

A report on Wednesday said sales of new homes were stronger in September than economists expected, potentially complicating things for the Fed

In the oil market, crude prices climbed to recover some of their sharp losses from earlier in the week. A barrel of U.S. crude rose $1.65 to settle at $85.39. Brent crude, the international standard, jumped $2.06 to $90.13 per barrel.

Gold for December delivery rose $8.80 to $1,994.90 an ounce. Silver for December delivery fell 11 cents to $23.01 an ounce and December copper fell 3 cents to $3.59 a pound.

Wheat for December was down 12 cents at $5.685 a bushel; December corn was off 4 cents at $4.80 a bushel, December oats was up 3.5 cents at $3.8975 a bushel; while November soybeans fell 7 cents at $12.9525 a bushel.

— Associated Press