U.S. stocks moved broadly lower on Wall Street Thursday after weak earnings from several large companies pulled down the technology sector.
A 2.7% drop from Facebook pushed communications stocks lower following the social media company's latest disclosure that it is being investigated over allegedly anticompetitive behavior. Bond prices fell. The yield on the 10-year Treasury rose to 2.08% after the government reported that orders to U.S. factories for large manufactured goods rose last month beyond economists' forecasts.
"It's a pretty low bar to chin and a lot of companies have chinned it," said Katie Nixon, chief investment officer at Northern Trust Wealth Management.
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