The S&P 500 ticked lower Thursday, after notching its worst day since April, as Wall Street assessed the latest corporate earnings results and struggled to shake off pressure from rising bond yields.
The Dow Jones Industrials dropped 66.7 points to end Thursday at 35,215.82.
The much broader index faded 11.54 points to 4,501.85.
The NASDAQ index dipped 13.73 points to 13,959.72.
The busy earnings week carried on, with chipmaker Qualcomm losing about 8.2% on a fiscal third-quarter revenue miss and disappointing guidance. PayPal shed 12.3% despite posting in-line results, while Expedia plunged 16.4% as gross bookings fell short of expectations.
The market faces another major earnings test Thursday as tech bellwethers Apple and Amazon report results after the bell. Thus far, nearly 79% of S&P 500 companies have issued quarterly reports, with about 82% beating expectations, according to FactSet. Earnings are also expected to fall about 5% from a year ago.
Prices for the 10-year Treasury crashed, raising yields to 4.18% from Wednesday's 4.07%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.24 to $81.73 U.S. a barrel.
Gold prices subtracted $6.20 to $1,968.80 U.S. an ounce.