Wall Street plummeted on the final day of October, snapping a five-month win streak. A post-earnings decline in tech titans Microsoft (MSFT) and Meta Platforms (META) dragged down the market, while traders also received a mixed picture on inflation.

Stocks sank at the open and stayed down through Thursday's close, the weight of unmet earnings expectations for several Magnificent 7 stocks dragging the major indexes into the red. Data showing still-stabilizing inflation and still-healthy employment situations nudged interest rates higher early in the session.