U.S. stocks pare losses in final hour of trade as Nasdaq remains deep in correction territory

U.S. stock indexes were trimming earlier losses in the final hour of trade on Thursday with the Nasdaq Composite
COMP,
-1.76%
on pace to end at its lowest levels since May as megacap tech earnings have mostly failed to meet investor expectations. The Dow Jones Industrial Average
DJIA,
-0.76%
was falling 116 points, or 0.4%, at 32,917, while the S&P 500
SPX,
-1.18%
was off 0.7% and the Nasdaq was declining by 1.3% after tumbling over 2% in midday trade. Facebook parent Meta Platforms
META,
-3.73%
’ earnings spooked markets after the firm’s CFO warned of slower advertising revenues in the fourth quarter, following the publication of the third-quarter results that showed rising digital-advertising revenue.