(CNBC) – Stocks fell in volatile trading on Thursday as Microsoft and Apple led the broader market lower and traders pored through disappointing unemployment data.
The Dow Jones Industrial Average dropped about 350 points, or 1.3%. The S&P 500 slid 1.2%, on pace to snap a four-day winning streak. The Nasdaq Composite fell 2.2% as the sell-off in major technology companies deepened.
Microsoft shares were down by 4.3% despite reporting better-than-expected earnings for the previous quarter. Though the company’s results were largely positive, Microsoft said its transactional license purchasing continued to slow and that subsidiary LinkedIn was negatively impacted by the weak job market.