Shares of technology companies fell after mixed earnings and a warning from the Federal Reserve.
Fed Chairman Jerome Powell warned that the central bank had a "ways to go" on increasing interest rates and likely would not be able to tame inflation without sacrificing the economic recovery.
Airbnb fell sharply after the home-sharing app warned about seasonal weakness in the current quarter.
Chipmaker Qualcomm fell in late trading after it warned that a slump in smart-phone demand was set to worsen.
The Chinese industrial park where Foxconn Technology Group's most advanced iPhone plant is battling a Covid-19 outbreak entered a weeklong lockdown Wednesday, after videos of workers fleeing from the site spread on social media.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-02-22 1728ET
