Dow drops 200, S&P 500 closes 1% lower, Nasdaq sheds 1.7% amid corporate profit worries

By Around the Web

(Image by Oleg Gamulinskiy from Pixabay)
(Image by Oleg Gamulinskiy from Pixabay)

(CNBC) — 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 Industrial Average fell by 207.49 points, or 0.61%, to 33,949.2. The S&P 500 slid 46.09 points, or 1.11%, to 4,117.91 points. The Nasdaq Composite dropped 203.27 points, or 1.68%, 11,910.52.

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Chipotle slid more than 5% after missing expectations on the top and bottom lines in its latest results. Lumen Technologies tumbled 21.3% after it reported a fourth-quarter loss of $3.1 billion and gave guidance for the year that was under Wall Street expectations.

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