S&P 500 closes 1% lower, Nasdaq sheds 1.7% on Wednesday amid corporate profit worries 
U.S. stocks slid Wednesday as investors returned focus to the latest batch of corporate earnings. Wall Street also continued to weigh the outlook for future Federal Reserve policy moves. The Dow Jones Industrial Average fell by 207.68 points, or 0.61%, to 33,949.01. The S&P 500 slid 1.11% to end at 4,117.86 . The Nasdaq Composite dropped 1.68% to close at 11,910.52. 
Chipotle slid roughly 5% after missing expectations on the top and bottom lines in its latest results. Lumen Technologies tumbled nearly 21% after it reported a fourth-quarter loss of $3.1 billion and gave guidance for the year that was under Wall Street expectations. Meanwhile, CVS and Uber each gained more than 3% and 5% on the back of earnings that came in above Wall Street estimates. 
Unrelated to earnings, Google-parent Alphabet tumbled more than 7% amid concerns of rising competition in the artificial intelligence space. 
Disney reported fiscal first-quarter earnings that beat on the top and bottom line. Smaller subscriber losses and a beat on the top and bottom lines were the highlights of Disney’s fiscal first-quarter earnings report. 

Maersk, one of the world’s largest container shipping firms, on Wednesday reported a fall in fourth-quarter earnings but posted the best full-year result in its history. 
The Danish giant, widely seen as a barometer for global trade, said its earnings before interest, taxes, depreciation and amortization (EBITDA) reached $6.5 billion in the fourth quarter, below a Refinitiv consensus analyst forecast of $6.77 billion and down from $8 billion for the same quarter of 2021. 
This took the full-year underlying EBITDA figure to $36.84 billion, fractionally below the company’s forward guidance of $37 billion but its strongest-ever full-year result. 
Yet for 2023, Maersk expects underlying EBITDA to plummet to between $8 billion and $11 billion. 
Source: CNBC, Investing.com