Disappointing earnings weighed the markets down during the midday with the Dow plunging 103 points to 18,491. Nasdaq fell 21 points to 5,068.

Tesla chief executive Elon Musk presented a vision of how the electric car maker will expand its business. Musk sees Tesla commercial trucks and public buses in the near future. The announcement was made at a challenging time for company. The autopilot feature in the Tesla Model S has been blamed for a fatal accident and the company has delivered fewer cars than expected.

Starbucks has been at the forefront of corporate responsibility. The company uses ethically sourced coffee beans, offers competitive wages to its employees and introduced its College Achievement Plan in June 2014. But, the company serves coffee in non-recyclable paper cups. Approximately 4 billion cups end up in landfills every year. That is about to change. The world's largest coffee chain began testing recyclable cups at its locations in the UK yesterday.

The Justice Department along with attorney generals from numerous states have filed two lawsuits challenging Anthem's proposed acquisition of Cigna and Aetna's proposed acquisition of Humana. The suits allege that the two consolidation deals would reduce price competition and hurt consumers. Aetna and Humana have vowed to vigorously fight the suit. Cigna said that it would evaluate its options while Anthem appeared open to a settlement.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 10 points to 2,162. Bitcoin added $1 to $661.