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Stocks accelerated their losses in the final minutes of trading to close near lows Wednesday, pressured by a handful of lackluster tech earnings and amid renewed concerns over the euro zone.
The Dow Jones Industrial Average slumped 82.79 points, or 0.63 percent, to close at 13,032.75, led by Intel and IBM .
The S&P 500 slid 5.64 points, or 0.41 percent, to finish at 1,385.14. The Nasdaq fell 11.37 points, or 0.37 percent, to end at 3,031.45.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, closed above 18.
Among the key S&P sectors, financials and techs ended lower, while consumer discretionary squeezed out a small gain.
Intel was among the biggest blue-chip laggards even after the chipmaker beat earnings and revenue estimates as the firm said expenses related to ramping up new production would have a bigger impact on gross margins than expected. Still, at least eight brokerages raised their price target on the company.
IBM also topped earnings estimates and raised its outlook, but the tech giant's shares tumbled after revenue came in somewhat short of analyst expectations . At least seven brokerages boosted their price target on the firm.
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