Closing Bell: Snap Sells Off After Weak Quarter; Macy's, Kohl's Sink Wall Street

Stocks held losses as a selloff in Snap (SNAP) - Get Report pulled the rest of the tech sector lower. Snap had posted a far wider quarterly loss than anticipated. The tech-heavy Nasdaq snapped a four-day record-making streak. Macy's (M) - Get Report and Kohl's (KSS) - Get Report triggered a selloff among department store stocks following a weak quarterly performance. Nordstrom (JWN) - Get Report will report earnings this afternoon, while J.C. Penney (JCP) - Get Report is scheduled for Friday morning. Yelp (YELP) - Get Report clawed its way back from massive losses seen earlier in the week following a disappointing quarterly report. Citi analyst Mark May said the selloff looked overdone.  Merck (MRK) - Get Report rose after receiving approval for Keytruda in combination with chemotherapy as a treatment for lung cancer. JPMorgan said the development put the drugmaker in a leadership position in a multi-billion dollar industry.