Plenty of earnings out today as the major averages closed lower as a number of big cap techs took a hit following a meeting between President Donald Trump and Chinese President Xi Jinping. The Dow Jones Industrial Average fell 109 points, or 0.23%, to 47,522.

The S&P 500 fell 68 points or 1% while the Nasdaq Composite dropped 377 points or 1.57% to close at 23,581.

The weakness in tech came from Meta and Microsoft down 11% and 3% respectively. A majority of the big cap techs were lower except for Google, up 2% on strong earnings. Apple was modestly higher ahead of earnings tonight.

At least 25 S&P 500 companies reported earnings in the last 24 hours with mixed results. Chipotle, Sprouts Farms, Altria, Starbucks and Cigna were lower. Bristol, Cardinal Health, Eli Lilly, Fox and Lending Tree were higher.

Interest rates were higher as uncertainty increases for a rate cut in December. The benchmark 10-year Treasury yield climbed 3 basis points to 4.08%. The 2-year Treasury note yield rose 2 basis points to 3.61%. The 30-year bond yield added more than 4 basis points to 4.64%.

Oil was quiet once again hovering around $60 a barrel. Gold was modestly higher while crypto currencies were lower by more than 2%.

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