U.S. Stocks Climb Well Off Worst Levels But Remain Mostly Lower

(RTTNews) - After moving sharply lower early in the session, stocks have regained some ground over the course of the trading day on Wednesday. The major averages have climbed well off their lows of the session but remain in negative territory.

Currently, the Dow is down 122.46 points or 0.4 percent at 33,611.50 after falling more than 450 points in early trading. The Nasdaq is down 98.77 points or 0.9 percent at 11,235.50 and the S&P 500 is down 22.16 points or 0.6 percent at 3,994.79.

The early sell-off on Wall Street largely reflected a negative reaction to earnings news from some big-name companies.

Software Microsoft (MSFT) showed a steep drop in early trading reporting its fiscal second quarter results after the close of trading on Tuesday.

Microsoft reported second quarter earnings that exceeded analyst estimates but provided disappointing revenue guidance for the current quarter.

Shares of Microsoft plunged by as much as 4.6 percent but have shown a notable rebound over the course of the session and are currently down just 0.8 percent.