Stocks fell Wednesday as a pullback in shares of Google-parent Alphabet led the broader tech space lower.
The Dow Jones Industrials withered 129.18 points to begin Wednesday at 33,012.20.
The S&P 500 index faltered 43.28 points to 4,204.40.
The NASDAQ slumped 208.96 points, or 1.1%, to 12,930.92.
The S&P 500 communication services sector declined nearly 5%, on track for its worst day since October 2022. Alphabet is the largest component of the sector.
Tech stocks were largely under pressure following Alphabet's third-quarter results a day earlier, pushing investors to signal caution toward the broader sector. Alphabet shares tumbled more than 8% as its cloud business missed analysts' estimates, overshadowing its revenue growth and earnings beat. The decline in Alphabet stock is its worst fall since October 2022.
Shares of peer tech behemoths and Apple descended 1% and Amazon, slipped 2.5%. Amazon is set to report third-quarter results after the closing bell on Thursday.
Microsoft stood out as an outlier among the decline in tech stocks on Tuesday, with shares gaining more than 4% after first-quarter results beat Wall Street estimates.
Tech firms IBM and Meta will post quarterly results in the afternoon. About 29% of S&P 500 companies have posted third-quarter earnings thus far. Of those companies, 78% have exceeded expectations.
Prices for the 10-year Treasury sagged, propelling yields to 4.91% from Tuesday's 4.81%. Treasury prices and yields move in opposite directions.
Oil prices sank 46 cents to $83.28 U.S. a barrel.
Gold prices gained $2.90 to $1,989.00.