Stocks Fall Pre-Bell as Traders Digest Meta, Tesla Earnings

07:43 AM EDT, 10/22/2026 (MT Newswires) -- US equity markets were down before the opening bell Thursday as traders digested the latest financial results from technology giants Meta Platforms (META) and Tesla (TSLA) and awaited another batch of corporate earnings. The S&P 500 fell 1.1%, the Dow Jones Industrial Average decreased 0.7%, and the Nasdaq 100 slipped 1.9% in premarket trading. Wall Street finished Wednesday trading higher, with the S&P 500 extending its winning streak to a third straight session. Meta shares were down 1.2% pre-bell following the Facebook parent's third-quarter results, which included a $9.89 billion charge related to a settlement of litigation over teen mental health and social media. Meta's third-quarter results were "fundamentally strong," excluding the nearly $10 billion legal charge, RBC Capital Markets said in a client note. The brokerage added that earnings before interest and taxes would have exceeded Wall Street estimates by 13% without the charge, while revenue topped expectations by 2%. Electric vehicle manufacturer Tesla's stock fell 4.3% as third-quarter revenue slipped year over year due to weakness in its automotive and energy generation divisions. IBM (IBM) slipped 4.6% after reporting its latest financial results. Procter & Gamble (PG), Union Pacific (UNP), Lockheed Martin (LMT), Spotify Technology (SPOT), Comcast (CMCSA), Honeywell International (HON), Dover (DOV), Dow (DOW), Tractor Supply (TSCO) and American Airlines (AAL) are scheduled to report their quarterly earnings before the bell, among others. Newmont (NEM), Bloom Energy (BE), Omnicom (OMC) and Deckers Outdoor (DECK) post their results after the markets close. Treasury yields were trending downwards early Thursday, with the two-year rate retreating 5.8 basis points to 4.77% and the 10-year rate off 7.3 basis points to 5.07%. West Texas Intermediate crude oil gained 2.5% to $99.60 a barrel, while Brent inclined 2.9% to $111.97 a barrel. The US and Israel have drawn up specific plans to resume military operations against Iran after the midterm elections in November, The New York Times reported Wednesday, citing sources. The targets are likely to include Iran's energy infrastructure, nuclear facilities, and missile and drone assets, according to the report. The US has also ordered non-emergency government employees and their families to leave Saudi Arabia amid its ongoing conflict with Yemen's Iran-aligned Houthi rebels, CNBC reported. Thursday's economic calendar has the weekly jobless claims bulletin, followed by the Federal Reserve Bank of Kansas City's manufacturing index for October. Spot gold slid 1% to $4,107 per troy ounce, while bitcoin fell 2.8% to $82,057.