Markets Right Now: Stocks plunge, erasing gains for the year

NEW YORK (AP) — The latest on developments in financial markets (all times local):
4 p.m.
Stocks are closing sharply lower on Wall Street, led by a swoon in technology companies. The S&P 500 and the Dow Jones Industrial Average erased their gains for the year.
High-flying companies like Netflix and Amazon took some of the biggest losses Wednesday. Netflix gave back 9.4 percent and Amazon dropped 5.9 percent.
Several companies sustained heavy drops after reporting disappointing results.