The Dow Jones Industrials came off its gully of the morning, but remained lower 135.99 points to 32,011.77.
The S&P 500 toppled 33.58 points, or 1%, to 3,726.11
The NASDAQ faltered 143.99 points, or 1.4%, to 10,380.80.
Markets will likely continue to seesaw until it is clear inflation has cooled off and that the Fed has stopped marching rates higher, but traders are split over where interest rates are headed. Any data that shows the U.S. economy isn’t slowing as the central bank tightens policy will likely weigh on stocks.
Corporate earnings season continued, with Qualcomm, Roku and Fortinet all falling sharply on disappointing quarterly results and forward guidance.
Peloton’s stock tumbled after reporting a wider-than-expected loss, while Moderna sank on a lowered COVID vaccine sales outlook.
Treasury prices slipped, raising yields to 4.17% from Wednesday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices tumbled $1.19 to $88.81 U.S. a barrel.
Gold prices skidded $19.00 to $1,631.00 U.S. an ounce.