The markets sold off sharply again today as earnings from the important semiconductor space disappointed Wall Street. The Dow 30 was lower by 608, the S&P 500 lost 84, and then Nasdaq 100 closed down on the day by 329. Investors expect that earnings will continue to be the focus as more than half of the S&P 500 still has to report.

Sector News

Chipmakers were a big focus today as Texas Instruments sold off on earnings. The earnings news also send many other names in the space lower today as investors fear their earnings will also show a slowdown in the sector as a whole. Shares of Micron Technologies (MU  ) sold off to new 52 week lows.

Financials continued their push lower today despite a widely followed analysts comments that he is "all in" the big banking stocks. The financial sector sold off to lows today as investors continue to avoid buying this dip. The sector is now lower by 13% since the high set back in September.

Stock News

Texas Instruments (TXN  ) shares sold off today as the company reported revenue that missed expectations. They also reported weaker than expected guidance going forward which starts to confirm the slowdown that many analysts have been predicting in the chip space. Semiconductors sold off 5% on the news.

Boeing (BA  ) shares were slightly higher today as the company reported a healthy profit for the previous quarter. Thanks to strong sales and orders, revenue was also higher than expected which allowed the company to raise it's full year forecasts. Analysts also noted their free cash flow which was higher than expected.

United Parcel Service (UPS  ) shares sold off today on an earnings report which showed slower revenue than expected. The company did mention that they were confident in their outlook going forward but investors chose to exit, sending shares to a three month low.