NEW YORK (AP) — Big swings keep rocking Wall Street. The S&P 500 fell 1.6% Thursday after erasing an early surge that initially had it on track for its best day since May. The Dow Jones Industrial Average dropped 0.8%, and the Nasdaq composite sank 2.2%. The sharpest losses again hit what had been the market’s biggest winners. Nvidia, cryptocurrencies and other areas that had earlier soared with nearly relentless momentum forced the market lower. Nvidia was the heaviest weight on the stock market despite another blowout profit report, while bitcoin dropped below $87,000. Treasury yields fell following a mixed report on the U.S. job market.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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