Stocks were under pressure Thursday, weighed down by the latest batch of corporate earnings.
The Dow Jones Industrials skidded 132.48 points to 52,342.62.
The S&P 500 ditched 23.75 points to 7,720,23.
The tech-heavy NASDAQ tumbled 365.13 points, or 1.4%, to 26,184.72.
Alphabet lost 13% after it missed expectations on adjusted earnings per share and revenue in the third quarter. The Google parent posted negative free cash flow of $9.07 billion. The company kept its full-year capital expenditures forecast at $195 billion to $205 billion.
Fellow Dow member Caterpillar slid 9%. While the industrial giant reported better-than-expected revenue and earnings for the third quarter, sales in its construction industries business came in slightly below estimates.
Microsoft was also lower, reversing course from its initial advance after growth in the Windows maker’s Azure cloud infrastructure business helped earnings and revenue to beat analyst estimates in its fiscal first quarter ending in September. The stock was last down almost 1%.
Shares of CoreWeave hesitated 3%, while Nebius declined more than 5%.
Prices for the 10-year Treasury gained ground, lowering yields to 4.96% from Wednesday’s 5.05%. Treasury prices and yields move in opposite directions.
Oil prices lost 23 cents to $102.55 U.S. a barrel.
Gold prices slumped $18.70 to $4,031.90 U.S. an ounce.
