Wall Street slumps after rise in layoffs, tech weakness

NEW YORK (AP) — Wall Street is stumbling on Thursday, undercut in part by a discouraging report showing that layoffs are picking up across the country with coronavirus counts. Technology stocks had the sharpest drops after a better-than-expected profit report from Microsoft wasn’t enough to satisfy investors expecting even more, and they helped drag the S&P 500 down 1.1% in afternoon trading. The index is on pace for its first loss in five days and potentially its worst in five w