US Stocks close lower as investors eye Mideast talks, earnings

The Dow Jones Industrial Average .DJI fell 464.02 points, or 0.85%, to 53,885.10, the S&P 500 .SPX lost 13.52 points, or 0.18%, to 7,710.03 and the Nasdaq Composite .IXIC lost 15.09 points, or 0.06%, to 26,348.35.

The recent indications of movement toward a peace deal helped push crude prices lower earlier in the week and, in turn, eased inflation worries and expectations for a rate hike from the Federal Reserve, which also served to push U.S. Treasury yields lower.

Data storage company Western Digital WDC.O tumbled 13% and memory chip maker Sandisk SNDK.O dropped 6.8% in the wake of their quarterly results. Both companies have surged this year, however, with Sandisk up more than 400% and Western Digital up about 160%.

AppLovin APP.O plunged 19.7% after the marketing platform missed Wall Street estimates for quarterly revenue, while Datadog DDOG.O plummeted 19% after the cloud security firm said it expects revenue growth to slow in the third quarter. Both stocks were among the biggest drags on the benchmark S&P index.