Wall Street snaps 3-session winning streak as techs fall

US stocks closed lower on Thursday, snapping a three-session winning streak, as technology shares fell following earnings from Alphabet and Caterpillar, while an acceleration in September inflation fuelled concerns about further monetary tightening.

The Dow Jones Industrial Average fell 0.25%, or 132 points, to 52,342. The S&P 500 lost 0.30%, or 23 points, to 7,720, while the Nasdaq Composite dropped 1.38%, or 365 points, to 26,184.

In Europe, the STOXX 600 rose 0.77% to 649. Britain's FTSE 100 gained 0.26% to 10,722. Germany's DAX advanced 1.31% to 26,039, while France's CAC 40 climbed 1% to 7,970.

Japan's Nikkei 225 rose 1.10% to 64,659, while the broader Topix added 0.30% to 4,003.

Brent crude futures for December delivery settled 0.38%, or 44 cents, lower at $114.88 a barrel. US West Texas Intermediate crude futures for December fell 0.76%, or 78 cents, to $102 a barrel.

December gold futures slipped 0.50%, or $20.20, to $4,031.40 an ounce.

Market drivers

Earnings from Alphabet and Caterpillar renewed concerns about the sustainability of heavy spending on artificial intelligence infrastructure, weighing on Wall Street, particularly technology shares. Meanwhile, an acceleration in the Federal Reserve's preferred inflation gauge kept the prospect of further monetary tightening in focus.