S&P 500 Suffers Worst Day in Three Weeks After Earnings Selloff

It was a bruising day for Wall Street Tuesday with stocks plummeting deep into the red as disappointing earnings took center stage. The S&P 500 fell 1.3%, the Dow Jones Industrial Average dropped 291 points, and the Nasdaq plummeted 1.9%. The tech sector was the worst performer of the day with Microsoft leading losses following a weaker-than-expected quarter. Yahoo! was down 3%, Facebook dropped more than 1%, and eBay slid 2.3%. Construction equipment maker Caterpillar also plummeted after guiding for full-year profits well below estimates. Management said forecasts have taken a hit on weakening demand from the mining industry.