Good news on the U.S. economy is back to being bad news for Wall Street, and the stock market slumped Tuesday following better-than-expected reports on the job market and business activity.

The S&P 500 fell 1.1% after giving up an early gain. The Dow Jones industrial average dropped 178 points, or 0.4%, while the Nasdaq composite tumbled 1.9%.

Stocks dropped under the weight of rising yields in the bond market, which jumped immediately after the release of the encouraging reports on the economy. One said U.S. employers were advertising more job openings at the end of November than economists expected. The other said activity for finance, retail and other services businesses grew much faster in December than expected.

Tuesday’s report on U.S. services industries from the Institute for Supply Management also contained discouraging trends on inflation, saying price increases accelerated in December.

The yield on a 10-year Treasury climbed to 4.69% from 4.63% shortly before the release of Tuesday’s reports and from just 4.15% in early December.

High yields can put heavy pressure on stocks seen as the most expensive.

Nvidia swung to a loss of 6.2% and became the heaviest weight on the S&P 500. Losses for Amazon, Tesla, Apple and Microsoft were the next-strongest forces dragging the index lower.

Helping to keep Tuesday’s losses for U.S. stock indexes in check was Cintas, which rose 2% after making public its offer to buy its smaller rival, UniFirst, for $275 per share in cash.

UniFirst jumped 20.9% to $204.69, below Cintas’ offer price.

Elsewhere on Wall Street, Shutterstock and Getty climbed after they announced they were joining to become a $3.7 billion visual content company to provide customers with a broader array of still imagery, video, music, 3D and other media.

Getty Images shareholders will own a slight majority of the combined company. Getty shares jumped 24.1%, while Shutterstock climbed 14.8%.

All told, the S&P 500 fell 66.35 points to 5,909.03. The Dow slipped 178.20 to 42,528.36, and the Nasdaq composite sank 375.30 to 19,489.68.

— Associated Press