Markets Dip as Earnings Drive Stocks Lower

The Dow was down nearly 1% Wednesday afternoon.

Author:: Tony Owusu
Publish date:: Oct 25, 2017 12:50 PM EDT

Here's whats going down on Wall Street, midday October 25

Stocks were having their worst day of trading in nearly two months Wednesday, lessening the possibility of another record close for the Dow unless a major turn around occurs in the afternoon.
The Dow was down 0.4% while the S&P and Nasdaq dropped 0.7% and 0.9% respectively.

Quarterly results continue to be the driving force in the market's fluctuations as earnings season continues in earnest.

Chipotle was one of the sessions biggest losers after the struggling restaurant posted earnings that were well below expectations on top-line results that also just missed.

Boeing BA on the other hand, was able to top expectations, however, the company also said that it took a $350 million charge related to its troubled KC-46 aerial refueling tanker.

Advanced Micro Devices (AMD) - Get Report was another security that beat on earnings and revenue, falling 10% midday. The decline was due in part to the company admitting that they are experiencing a leveling off of cryptocurrency demand. Digital currencies are mined with the graphics cards that AMD makes.