Stock market today: Wall Street slumps as good news for economy reverts to being bad news for stocks

NEW YORK (AP) — Good news on the U.S. economy is back to being bad for Wall Street. The S&P 500 swung to a loss of 1.1% after a pair of reports on the economy came in better than expected. The Dow Jones Industrial Average dropped 0.4%, and the Nasdaq composite tumbled 1.9%. While the strong reports on the U.S. job market and business activity were good news for anyone worried about a possible recession, they could also make it less likely the Federal Reserve will cut interest rates. Treasury yields jumped after the reports, and Nvidia and other Big…