Stocks Finish Lower Amid Lackluster Results from Best Buy, Citigroup.

Markets closed lower amid disappointing corporate earnings from companies such as Citigroup and Best Buy. Stocks are being punished for earnings misses amid a backdrop of high valuations while fundamental stockpicking has come to the fore as macroeconomic risks recede and central bank stimulus winds back. Jobless claims and inflation data are not expected to alter the course of the Fed, which meets later this month to decide whether stimulus should be further scaled back.