Stocks were lower on Tuesday as market participants looked ahead towards results from Big Tech after the bell. The Dow Jones Industrial Average (DIA  ) fell over 340 points, while the S&P 500 Index and Nasdaq Composite dropped about 1.6% and 2%, respectively.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -1.58% or -65.40 points to 4,071.64

Dow Jones Industrial Average (DIA  ): -1.02% or -344.17 points to 33,531.23

Nasdaq Composite Index (QQQ  ): -1.98% or -238.05 points to 11,799.16

Wall Street is focused on earnings from Alphabet (GOOGL  ), Microsoft (MSFT  ), Amazon (AMZN  ) and Meta Platforms (META  ) this week, with the first two slated to deliver results after market close on Tuesday. Alphabet and Microsoft have outsized influence on the broader market's performance so far this year, each rising more than 20% and 17% year-to-date, respectively.

Traders have also turned their attention towards major energy players, with ExxonMobil (XOM  ), Chevron (CVX  ), TotalEnergies (TTE  ) and Valero (VLO  ) set to report earnings at the end of the week.

The market was met with a slew of earnings reports in the meantime Tuesday morning.

First Republic Bank (FRC  ) was in focus following the aftermath of March's banking crisis, with the San Francisco-based regional bank's first-quarter despotis falling 41% to $104.5 billion, well below analyst expectations for quarter-end despots of about $145 billion. The stock was down more than 40% on Tuesday.

UPS (UPS  ) shares fell after the shipping giant reported disappointing quarterly results. "Deceleration in U.S. retail sales resulted in lower volume than we anticipated, and we face ongoing demand weakness in Asia," CEO Carol Tome said in a statement. "Given current macro conditions, we expect volume to remain under pressure."

McDonald's (MCD  ) posted better-than-expected first-quarter results Tuesday morning. The fast-food chain also said U.S. traffic rose for a third straight quarter, with the company seeing continued demand despite rising menu prices.

General Motors (GM  ) reported both better-than-expected earnings and strong full-year guidance between $11 billion and $13 billion from the previous forecast of $10.5 billion and $12.5 billion. CEO Mary Barra told investors during an earnings call that the carmaker plans to stop production of its electric Chevrolet Bolt by the end of the year in preparation for production of electric Chevy Silverado and GMC Sierra trucks next year.

PepsiCo (PEP  ) reported strong earnings and revenue and raised its outlook for the full year as the beverage and snacks giant benefitted from resilient demand despite higher prices. Meanwhile, JetBlue (JBLU  ) reported a smaller-than-expected earnings loss and forecasted a "solidly profitable" second quarter ahead.

In economic news for Tuesday, U.S. home prices rose for the first time since June in March, snapping seven straight months of declines in response to higher interest rates as buyers again returned to the market, according to the S&P CoreLogic Case-Shiller National Home Price Index. Sales for the month totaled a seasonally adjusted 683,000 at an increase of 9.6%.

Elsewhere, consumer confidence ticked lower in April as many Americans grew more concerned over slowing economic growth and a possible recession on the horizon. The Conference Board reported Tuesday that its Consumer Confidence Index fell to 101.3 in April from a reading of 104 in March.

Looking ahead, Wall Street will respond to earnings from Microsoft and Goolge-parent Alphabet during Wednesday's session, as well as reports from Boeing (BA  ) and Thermo Fisher Scientific (NYS: TMO) in the morning.