Technology companies lead stock market slide

Technology stocks led a broad slide in the U.S. markets Tuesday after a day of mostly choppy trading.

Phone and utility companies were among the big decliners after a sell-off in bonds sent yields sharply higher. Banks bucked the broader market decline amid heightened expectations of rising interest rates. Oil prices rose for the fourth straight day.

Late-afternoon developments in Washington helped put investors in a selling mood.

The Standard & Poor's 500 index fell 19.69 points, or 0.8 percent, to 2,419.38. The Dow Jones industrial average slid 98.89 points, or 0.5 percent, to 21,310.66. The Nasdaq composite lost 100.53 points, or 1.6 percent, to 6,146.62. The Russell 2000 of small-company stocks gave up 13.12 points, or 0.9 percent, to 1,403.52.

The dollar rose to 112.15 yen from 111.89 yen late Monday. The euro strengthened to $1.1347 from $1.1181.

Technology companies were among the biggest decliners Tuesday.

Computer memory maker Seagate Technology gave up $2.88, or 6.8 percent, to $39.51, while semiconductor manufacturer Advanced Micro Devices slid 68 cents, or 4.8 percent, to $13.40. Netflix also fell, losing $6.47, or 4.1 percent, to $151.03.

Sprint Corp. gained 2.1 percent following a published report suggesting the mobile phone company is in talks with Charter Communications and Comcast Corp. on a deal that could enable the cable operators to buy a stake in Sprint. Sprint picked up 17 cents to $8.18. Comcast slid 34 cents, or about 1 percent, to $39.25, while Charter lost $2.78, or 0.8 percent, to $329.87.

J.C. Penney Co. Inc. added 3.2 percent after an analyst upgraded the stock to hold from sell, saying the struggling retailer should be able to meet its sales target for the year. J.C. Penney shares rose 15 cents to $4.82.

Shares in Kohl's Corp. gained 2.4 percent after the retailer announced it has appointed Bruce Besanko as chief financial officer. Besanko had held the same role at Supervalu Inc. Kohl's added 89 cents to $38.41.

Oil and gas futures notched gains Tuesday.

Benchmark U.S. crude gained 86 cents, or 2 percent, to settle at $44.24 per barrel in New York. Brent, the international standard, added 82 cents, or 1.8 percent, to close at $46.65 per barrel in London.

In other commodities trading, wholesale gasoline rose 2 cents to $1.46 per gallon. Heating oil also added 3 cents to $1.41 per gallon. Natural gas gained a penny to $3.04 per 1,000 cubic feet.

Gold inched up 50 cents to settle at $1,246.90 ounce. Silver added 2 cents to $16.59 per ounce. Copper gained 2 cents to $2.65 per pound.