BLU:CC - Markets Fall After Earnings Announcements

The S&P 500 fell for the first day in three as companies including Netflix and Morgan Stanley declined after posting first-quarter results.

The Dow Jones Industrials caved 105.41 points to 33,871.22,

The benchmark index faded 15.18 points to 4,139.69.

The NASDAQ dropped 66.42 points to 12,086.99.

While many of the companies reporting in the last 24 hours topped analysts' low-bar estimates, traders found something wrong within the results to send the stocks lower. A lack of forecasts from the major companies also left investors on edge with the Federal Reserve set to raise interest rates again in a couple weeks and recession fears swirling.

Netflix shares fell 3% as the streaming giant disappointed investors by pushing back plans to strictly clamp down on password sharing. In its latest quarter, Netflix beat analysts' expectations on earnings per share, and added more subscribers than expected, but fell short of revenue expectations.

Earnings reports from major banking institutions wrapped up with Morgan Stanley. Shares fell 1% despite seemingly strong results as margins for its investment banking, wealth and asset management businesses were weaker than expected, according to Wells Fargo analyst Mike Mayo. He noted that normalizing Morgan Stanley's tax rate would show weaker-than-expected earnings for the quarter.

Prices for the 10-year Treasury weakened, lifting yields to 3.61% from Tuesday's 3.58%. Treasury prices and yields move in opposite directions.

Oil prices ditched $2.21 to $78.65 U.S. a barrel.

Gold prices wilted $15.60 to $2,004.10 U.S. an ounce.