Wall Street slipped on Tuesday after industry bellwethers 3M, Johnson & Johnson and GE warned of a challenging year ahead, while a technical issue at the New York Stock Exchange briefly halted trading in some stocks shortly after the opening bell.
More than 80 NYSE-listed stocks were affected by the glitch, with shares of companies including Nike Inc (NKE.N) and Walmart Inc (WMT.N) seeing big swings in opening prices.
The problem sowed confusion among traders on an earnings-heavy day, where the market reaction to the quarterly results of some of the biggest companies was in focus.
Industrial conglomerate 3M Co (MMM.N) fell 5.7% as it forecast a gloomy first quarter.
Verizon Communications Inc (VZ.N) dropped 0.4% after forecasting annual profit below estimates, while Johnson & Johnson (JNJ.N) fell 1.3% as it warned that a surge in China COVID-19 cases could dent the first half sales in 2023.
General Electric Co (GE.N) fell 0.2% on a disappointing profit forecast for the year, despite topping quarterly earnings estimates.
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