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U.S. stocks slid Wednesday as investors returned focus to the latest batch of corporate earnings. Wall Street also continued to weigh the outlook for future Federal Reserve policy moves.
The Dow Jones Industrials plummeted 181.1 points at 33,975.59.
The S&P 500 fell 42.13 points, or 1%, to 4,121.87.
The NASDAQ Composite skidded 185.8 points, or 1.5%, to 11,927.99.
Chipotle slid more than 4% after missing expectations on the top and bottom lines in its latest results. Meanwhile, CVS improved 2% and Uber gained more than 6%, following earnings that came in above Wall Street estimates. Google parent Alphabet tumbled nearly 8% amid concerns of rising competition in the artificial intelligence space.
Investors are looking to post-bell earnings from companies including Walt Disney and Mattel to gauge if there are any signs of slowing consumer spending or a weakening in the economy.
Prices for the 10-year Treasury were higher, lowering yields to 3.67% from Tuesday’s 3.69%. Treasury prices and yields move in opposite directions.
Oil prices advanced 59 cents to $77.73 U.S. a barrel.
Gold prices were higher $3.10 to $1,887.90 U.S. an ounce.
