Stocks fell on Wednesday after the latest batch of corporate earnings intensified concerns over how some of the largest companies are faring as rates rise and recession fears grow.
The Dow Jones Industrials dived 251.42 points to 33,482.54.
The S&P 500 slid 50.11 points, or 1.3%, to 3,996.84.
The NASDAQ Composite swooned 225.27 points, or 2%, to 11,105.
Microsoft dropped 4% after it offered lackluster guidance on its earnings call. The news contributed to declines among technology stocks, with Alphabet, Salesforce and Tesla last down about 3% each. Boeing dipped following a top-and bottom-line miss.
Investors are bracing for more high-profile corporate earnings this week as fears of a recession mount. So far, more than 90 S&P 500 companies have reported fourth-quarter earnings, and 68% of them posted stronger-than-expected results.
Tesla and IBM and are among the companies slated to post numbers after the bell.
Wednesday's moves followed a three-day winning streak for the blue-chip Dow. All three major averages are trading flat, or slightly higher, for the week.
Prices for the 10-year Treasury gained ground, lowering yields to 3.43% from Tuesday's 3.46%. Treasury prices and yields move in opposite directions.
Oil prices gave back 64 cents to $79.49 U.S. a barrel.
Gold prices retreated $3.50 to $1,931.90 U.S. an ounce.