Disappointment over technology earnings weighed the markets down to a lower close with the Dow falling 68 points to 17,851. Nasdaq dropped 36 points to 5,171.

On the upside

Baozun (Nasdaq: BZUN) entered a cooperation agreement with Alibaba's (NYSE: BABA) Cainiao Network Technology.

JP Morgan downgraded Peabody Energy (NYSE: BTU) from an Overweight rating to a Neutral rating.

Fibrocell Science (Nasdaq: FCSC) priced its public offering of 2.6 million common shares at the discounted price of $5.80 per share but the stock price rose.

On the downside

Credit Suisse downgraded Rex Energy (Nasdaq: REXX) from a Neutral rating to and an Underperform rating.

A federal judge denied Caesars Entertainment's (Nasdaq: CZR) request to block lawsuits from its creditors.

Microsoft (Nasdaq: MSFT) fell to a loss for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 5 points to 2114. Bitcoin slipped $1 to $274.