Tim Walz, wife and son vote early in Minnesota

ST. PAUL, Minn. (AP) — The Democratic vice presidential candidate, Minnesota Gov. Tim Walz, his wife, Gwen, and their son, Gus, went to a polling place in St. Paul on a crisp fall Wednesday morning to cast their ballots early.

It was the first time voting for Gus, who just turned 18.

“I’m excited about it,” Walz told reporters on his way in to the Ramsey County Elections office.

Walz reportedly stood with Gus as they fed their ballots into the tabulation machine. An election worker called out “first-time voter” and the room erupted in cheers. The governor and son then high-fived each other.

Speaking briefly to reporters afterward, and sporting a red “I voted” sticker on his lapel, Walz called the election “a chance to turn the page on the chaos of Donald Trump, and a new way forward.”

Walz thanked the former president's longest-serving chief of staff, retired Gen. John Kelly, for “showing the courage to come forward” and warn the world about Trump's “descention into madness.” Kelly's comments came in interviews published Tuesday in The New York Times and The Atlantic.

“Look, Donald Trump made it very clear that this is an election about Donald Trump taking full control of the military to use against his political enemies, taking full control of the Department of Justice to prosecute those who disagree with him, taking full control of the media on what is told and what is told to the American public,” Walz said.

Walz also said he had “nothing to say” about reports that he was the target of Russian disinformation efforts but added that “it’s very clear that" Russian President Vladimir "Putin wants Donald Trump to win; Donald Trump wants Putin to win.”

Minnesota started early in-person voting on Sept. 20 but the governor has been on the campaign trail most of the time since Vice President Kamala Harris picked him as her running mate. Tim and Gwen Walz also voted early at the same office in 2022, when they were joined by their daughter, Hope, who was voting for the first time then but now lives in Montana.

Democratic vice presidential nominee Minnesota Gov. Tim Walz, right, and his son, Gus Walz, a first-time voter, cast their ballots during early voting at the Ramsey County Elections office in St. Paul, Minn., Wednesday, Oct. 23, 2024. (Renée Jones Schneider/Star Tribune via AP, Pool)

Democratic vice presidential nominee Minnesota Gov. Tim Walz, left, high-fives his son, Gus Walz, a first-time voter, as they cast their ballots during early voting at the Ramsey County Elections office in St. Paul, Minn., Wednesday, Oct. 23, 2024. (Renée Jones Schneider/Star Tribune via AP, Pool)

Minnesota Governor and Vice Presidential candidate Tim Walz, left, chats with his son, Gus Walz, a first time voter, as they cast their ballots during early voting at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Staff at Ramsey County Elections try to get a look at Minnesota Governor and Vice Presidential candidate Tim Walz as he early votes in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz, right, and his son, Gus Walz, a first time voter, cast their ballots during early voting at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz high-fives his son, Gus Walz, a first time voter, as they cast their ballots during early voting at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz wears an "I voted sticker" as he speaks to the press after early voting at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz speaks to the press after early voting at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz enters the Ramsey County Elections office with his wife, Gwen, and son, Gus, to early vote in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

Minnesota Governor and Vice Presidential candidate Tim Walz speaks to the press after voting early at Ramsey County Elections in St. Paul, Minn., on Wednesday, October 23, 2024. (Renée Jones Schneider/Star Tribune via AP)

NEW YORK (AP) — U.S. stocks closed lower as more steam came out of Wall Street’s huge, record-breaking rally. The S&P 500 fell 0.9% Wednesday. It was the third loss in a row for the benchmark index, the first time that’s happened in six weeks. The Dow Jones Industrial Average dropped 1%. The Nasdaq composite sank 1.6% as Nvidia and other Big Tech stocks were among the market’s heaviest weights. Momentum has reversed for stocks since the S&P 500 set a record on Friday as pressure has increased from rising Treasury yields in the bond market. Yields rose again Wednesday.

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

NEW YORK (AP) — U.S. stocks are falling Wednesday as more steam comes out of Wall Street’s huge, record-breaking rally.

The S&P 500 was down 1.1% in late trading and heading for its worst drop in six weeks. It’s also on track for its first three-day losing streak since then, following two small losses since it set an all-time high on Friday. The pullback follows a superb run where the index rallied to six straight winning weeks, its longest such streak of the year.

The Dow Jones Industrial Average was down 415 points, or 1%, as of 3 p.m. Eastern time, and the Nasdaq composite was 1.8% lower after Nvidia and other Big Tech stocks were among the market's heaviest weights.

Momentum has reversed for stocks this week as pressure has increased from rising Treasury yields. Higher yields can make investors less willing to pay high prices for stocks, which critics say already look too expensive after they rose faster than corporate profits.

“Slowly, then suddenly,” stock investors have been noticing the moves in the bond market, along with the rally for the U.S. dollar's value against other currencies, according to Jonathan Krinsky at BTIG.

McDonald’s helped pull the market lower and dropped 4.9% after federal health officials linked its Quarter Pounder burgers with an E. coli outbreak that’s affected at least 49 people in 10 states. Investigators are still trying to find what specific ingredient is contaminated, and the Centers for Disease Control and Prevention said McDonald’s stopped using fresh slivered onions and quarter pound beef patties in several states while the investigation is ongoing.

Coca-Cola fell 1.6% even though it reported stronger profit and revenue for the latest quarter than analysts expected. The company benefited from higher prices for its products, but a lot of focus was on how much product the company shipped during the quarter, and that fell short of some estimates.

Boeing slipped 1.1% in what could be one of the most consequential days in years for the troubled aerospace manufacturer.

The company reported a loss of more than $6 billion for the latest quarter, as it waits to see the results of a vote by machinists later in the day that could end a strike that’s crippled aircraft production for more than a month. Boeing stock has lost 40% this year.

The market's most impactful losses came from Big Tech stocks, which have been battling criticism for a while that their prices soared too high amid Wall Street's frenzy around artificial-intelligence technology. Nvidia's 3.1% drop and Apple's 2.7% fall were the two heaviest weights on the S&P 500.

Helping to limit the losses for indexes was AT&T, which rose 3.2% after reporting stronger profit for the latest quarter than analysts expected

Texas Instruments climbed 4.3% after the semiconductor company reported stronger profit and revenue than analysts expected. While revenue from industrial users declined from the prior quarter, CEO Haviv Ilan said all other end markets grew.

Northern Trust rallied 7.5% after likewise topping analysts’ estimates for profit and revenue in the latest quarter.

In the bond market, the yield on the 10-year Treasury rose again Wednesday to 4.24% from 4.21% late Tuesday and from just 4.08% Friday.

Treasury yields have been climbing after a raft of reports have shown the U.S. economy remains stronger than expected. That’s good news for Wall Street, because it bolsters hopes that the economy can escape from the worst inflation in generations without the painful recession that many had worried was inevitable.

Traders are now largely expecting the Fed to cut its main interest rate by half a percentage point more through the end of the year, according to data from CME Group. A month ago, some of those same traders were betting on the federal funds rate ending the year as much as half a percentage point lower than that.

In stock markets abroad, Japan’s Nikkei 225 slipped 0.8% despite a surge for Tokyo Metro Co.’s stock in Japan’s largest market debut since SoftBank Corp. went public in 2018.

Chinese markets rose for a second day after the central bank cut its one-year and five-year Loan Prime Rates on Monday. Indexes rose 1.3% in Hong Kong and 0.5% in Shanghai, while European markets were modestly lower.

AP Writers Matt Ott and Zimo Zhong contributed.

A train arrives at the Wall Street subway station in New York's Financial District on Wednesday, Oct. 23, 2024. (AP Photo/Peter Morgan)

A banner for LATAM Airlines hangs from the front of the New York Stock Exchange on Tuesday, Oct. 22, 2024, in New York. (AP Photo/Peter Morgan)

A banner for LATAM Airlines hangs from the front of the New York Stock Exchange on Tuesday, Oct. 22, 2024, in New York. (AP Photo/Peter Morgan)

A currency trader works near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 23, 2024. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 23, 2024. (AP Photo/Ahn Young-joon)

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 23, 2024. (AP Photo/Ahn Young-joon)