The Dow Jones fell 0.95 percent to 35,029.
The technology index Nasdaq falls by 1.15 percent to 14,340, and is down 10 percent from November’s all-time high.
The S&P 500 collective index falls by 0.97 per cent to 4,533.
Good quarterly figures
The earnings season picks up on Wall Street and so far the majority of companies have exceeded analysts’ expectations. Of the 44 S&P 500 companies that have reported quarterly results, almost 73% have topped Wall Street’s expectations, writes CNBC.
Both Bank of America and Morgan Stanley released solid quarterly figures on Wednesday. Bank of America rose 0.4 percent after falling 3.4 percent the day before. Morgan Stanley rose 1.8 percent after the bank’s profit in the fourth quarter topped estimates.
In the wake of Microsoft announcing the acquisition of Activision, Microsoft’s gaming competitor Sony fell 4.20 percent on Wednesday, after falling 7.2 percent on Tuesday.
Oil prices fell 0.50 percent to $ 88.08 a barrel.
The two major cryptocurrencies Bitcoin and Ethereum fell slightly, by 1.63 and 1.45 percent, respectively.
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