The Dow Jones Industrial Average lost 377.11 points, or 1%, to begin Thursday’s session at 38,064.43.
The S&P 500 slid 17.89 points to 5,249.06.
The NASDAQ lost 67.47 points to 16,853.11.
Salesforce plunged more than 18% after missing revenue expectations for the fiscal first quarter. The company’s earnings and revenue outlook for the second quarter also fell short of the Street’s estimates. On the other hand, Foot Locker rallied more than 28% on stronger-than-expected earnings per share.
Thursday’s moves come amid a tough, holiday-shortened trading week. The S&P 500 has slipped around 1%, while the NASDAQ Composite has shed 0.4% — putting both on track to snap five-week winning streaks. The Dow has tumbled more than 2%, on pace for its second straight losing week.
Investors are looking toward Friday’s release of the personal consumption expenditures price index report for April, which is the Federal Reserve’s preferred inflation gauge.
Prices for the 10-year Treasury strengthened, lowering yields to 4.57% from Wednesday’s 4.74%. Treasury prices and yields move in opposite directions.
Oil prices ditched 28 cents to $78.95 U.S. a barrel.
Gold prices moved higher $4.90 to $2,346.10.