12:50 PM EDT, 07/18/2024 (MT Newswires) -- US equity indexes fell after midday Thursday as quarterly earnings rolled in and weekly jobless claims increased more than forecast.

The Nasdaq Composite fell 0.9% to 17,840.9, with the S&P 500 down 0.7% to 5,552.2 and the Dow Jones Industrial Average 0.8% lower at 40,873.6. On Wednesday, the Nasdaq had its worst day since 2022 as the index sank 2.8% amid a sell-off in chip stocks following reports that the US may impose tighter export restrictions, according to a note from D.A. Davidson.

Technology was among the steepest decliners, while real estate was the second-biggest gainer by Thursday afternoon. For this week, the technology sector looks set for the sharpest decline and real estate for the biggest gain, reflecting potential investor strategy to play the highly anticipated monetary policy easing in September while tackling the pitfalls of geopolitics.

In company news, Taiwan Semiconductor Manufacturing Company ( TSM ) reported higher Q2 earnings as sales topped analysts' estimates. Still, shares of the Taiwanese chipmaker caught in the crosshairs of geopolitics fell 3% intraday. Nvidia ( NVDA ) was up 1.8% intraday. Broadcom ( AVGO ) rose 0.6%, while Qualcomm ( QCOM ) fell 1% intraday.

Domino's Pizza's (DPZ) second-quarter results rose year over year while the pizza restaurant chain temporarily suspended its long-term outlook for global net store growth. Its shares sank more than 13% intraday, the worst performer on the S&P 500.

D.R. Horton ( DHI ) shares soared 10.5% intraday, the leader on the S&P 500, after the company reported better-than-expected fiscal Q3 results.

The US 10-year Treasury yield rose 3.1 basis points to 4.18%, and the two-year rate climbed 1.9 basis points to 4.45%.

In economic news, US initial jobless claims rose to 243,000 during the week ended July 13 from the upwardly revised 223,000 level in the previous week, compared with expectations for 229,000 in a survey of analysts compiled by Bloomberg. The four-week moving average climbed 1,000 to 234,750.

West Texas Intermediate crude oil rose 0.5% to $83.24 a barrel.