U.S. stocks were poised to record their biggest one-day drops in roughly seven weeks on Wednesday, as worries about rising Treasury yields and the potential outcome of the upcoming Nov. 5 presidential election weighed on investors.

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,