S&P's Slide Continues

Wall Street fell in mixed trading Thursday amid worries about an uncertain global economy:

• The S&P 500 fell 49.54 points, or 1.2%, to 4,137.23. Heading into Friday, the index is down more than 2% for the week, per the AP.
• The Dow Jones Industrial Average fell 251.63 points, or 0.8%, to 32,784.30.
• The Nasdaq composite fell 225.62 points, or 1.8%, to 12,595.61.

Meta Platforms was among the market's heaviest weights, dropping 2.6% even though the parent company of Facebook and Instagram reported fatter profit and revenue for the summer than analysts expected. Investors may have been spooked by the company's warning that it's seen some initial softness in advertising due to the latest Israel-Hamas war, and analysts said the company gave a wider range than it has in the past for its forecast of upcoming revenue.

Elsewhere in the market, UPS sank 4.9% after it cut its forecasts for some full-year results because of uncertainty about where the global economy is heading. Investors see UPS as a window into the global economy's strength because it ships so many products around the world. Align Technology, which makes Invisalign systems that straighten teeth, also said an uncertain global economy may weigh on its upcoming results. Its stock tumbled 24.5% after it reported weaker profit and revenue for the latest quarter. On the winning side of Wall Street was IBM, which rose 5% after reporting stronger profit and revenue for the latest quarter than analysts expected. (More stock market stories.)