Drops for tech stocks and bad news on the US job market hit Wall Street as bitcoin plunges

NEW YORK (AP) — More drops for technology stocks are yanking the U.S. market lower on Thursday, while bitcoin’s price dropped by nearly half from its record set last fall. Yields are also sinking in the bond market following discouraging news on the U.S. job market.

The S&P 500 fell 1.1% and is heading toward its sixth loss in the seven days since it set an all-time high. The Dow Jones Industrial Average was down 483 points, or 1%, as of 2:45 p.m. Eastern time, and the Nasdaq composite was 1.3% lower.

Alphabet helped drag the market lower after falling 1.4%, even though the parent company of Google, YouTube and other businesses reported a stronger profit for the latest quarter than analysts expected. Investors focused in...