Stock Market Today: Nasdaq Enters Correction Territory After Alphabet Earnings

Solid results from Microsoft weren't enough to offset substantial post-earnings losses from fellow mega-cap stock Alphabet.

Google logo on smartphone with stock charts in background
(Image credit: Omar Marques/SOPA Images/LightRocket via Getty Images)

Tech stocks led the way lower Wednesday thanks to disappointing earnings from one mega-cap company. Rising Treasury yields only created additional headwinds, though well-received quarterly results from a blue chip stock helped contain losses for the Dow Jones Industrial Average

Specifically, the 30-stock average finished the day down 0.3% at 33,035. By comparison, the tech-heavy Nasdaq Composite slumped 2.4% to 12,821, ending in correction territory following a 10% drop from its July 19 closing high of 14,358. The broader S&P 500 fell 1.4% to 4,186.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.