NEW YORK - US stocks ended lower on Thursday as investors digested a flurry of earnings reports from major technology companies.

The Dow Jones Industrial Average fell 109.88 points, or 0.23 percent, to 47,522.12. The S&P 500 dropped 68.25 points, or 0.99 percent, to 6,822.34. The Nasdaq Composite Index shed 377.329 points, or 1.58 percent, to 23,581.144.

Seven of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and communication services leading the laggards by falling 2.56 percent and 2.14 percent, respectively. Meanwhile, real estate and financials led the gainers by rising 0.65 percent and 0.32 percent, respectively.

Megacap technology giants Alphabet, Meta Platforms and Microsoft reported quarterly results after Wednesday's market close. Alphabet's shares advanced 2.45 percent on stronger-than-expected earnings, while Meta and Microsoft dropped 11 percent and nearly 3 percent, respectively, as investors reacted to higher spending outlooks from both firms.

"It's a value day," said Jed Ellerbroek, portfolio manager at Argent Capital Management. "Because tech has been leading the market recently, the move from investors is probably a natural, healthy thing," he added, noting that "AI infrastructure spending remains extremely strong."

Despite near-term volatility following the Federal Reserve's latest rate decision and earnings announcements, some analysts viewed any market pullbacks as buying opportunities.

"We continue to see pullbacks, should they occur, as buying opportunities," Scott Wren, senior global market strategist at the Wells Fargo Investment Institute, wrote in a note, adding that his team expects the S&P 500 to reach between 7,400 and 7,600 by the end of next year.