NEW YORK, New York - Wall Street came under pressure Wednesday as technology stocks were sold off sharply on disappointing earnings reports. The U.S. dollar regained momentum as Treasury yields continued to hover around 16-year highs, with th 10-year bond circling the 5 percent level.

"Earnings are dominating the headlines, but I can't take my eyes off the bond market," Ed Moya, senior market analyst at Oanda told CNBC Wednesday.

"We haven't seen this skyrocketing pace in yields since 1982 and that should spell trouble for stocks."

S&P 500 (^GSPC)

The Standard and Poor's 500 index recorded a closing value of 4,186.77, reflecting a decline of 60.91 points, equivalent to a decrease of 1.43 percent. Trading volume for the S&P 500 amounted to 2.623 billion shares, indicating a busy day for traders.

The drop in the S&P 500 was attributed to growing concerns about the economic outlook and potential inflationary pressures, with several key sectors experiencing declines.

Dow Jones Industrial Average (^DJI)

The Dow Jones Industrial Average (DJIA) faced a less severe decline compared to the S&P 500. The DJIA closed at 33,036.00, down 105.38 points, representing a decrease of 0.32 percent. The total volume of shares traded on the Dow was approximately 351.042 million.

The Dow's performance was influenced by mixed economic data and cautious investor sentiment regarding rising interest rates and global trade tensions.

NASDAQ Composite (^IXIC)

The tech-heavy NASDAQ Composite index experienced a substantial decline on Wednesday. It closed at 12,821.22, marking a loss of 318.65 points, or 2.43 percent. Trading volume for the NASDAQ was notably higher at 3.921 billion shares, reflecting the influence of technology stocks on the market's overall performance.

Investors' concerns about the potential impact of rising interest rates on high-growth technology companies and increasing regulatory scrutiny contributed to the NASDAQ's decline.

U.S. dollar jumps on foreign exchange markets and Treasury yields surge

The greenback was in demand after Treasury yields rose again Wednesday. Here is a summary of the latest foreign exchange rates:

EUR/USD (Euro / US Dollar): The euro to U.S. Dollar exchange rate (EUR/USD) stood at 1.0566 in late trading Wednesday, reflecting a decrease of -0.0022 or -0.22 percent.

USD/JPY (US Dollar / Japanese Yen): The Japanese Yen exchange rate nudged up to 150.01, registering a decline of -0.10 or -0.07 percent.

USD/CAD (US Dollar / Canadian Dollar): The Canadian Dollar exchange rate (USD/CAD) closed fell sharply to 1.3795 Wednesday, showing a decline of 0.005 or 0.40 percent.

GBP/USD (British Pound / US Dollar): The British pound declined to 1.2116, marking a decrease of -0.0042 or -0.35 percent.

USD/CHF (US Dollar / Swiss Franc): The Swiss Franc exchange rate (USD/CHF) stood at 0.89665, after declining 0.0035 or 0.40 percent.

AUD/USD (Australian Dollar / US Dollar): The Australian dollar dived to 0.6309, experiencing a retreat of -0.0045 or -0.72 percent.

NZD/USD (New Zealand Dollar / US Dollar): The New Zealand dollar was sold off to 0.5807, reflecting a decrease of -0.0036 or -0.62 percent.

The foreign exchange market exhibited various dynamics on Tuesday, influenced by economic data releases, central bank policies, and geopolitical events. Traders and investors closely monitored these exchange rates for insights into currency market trends and potential trading opportunities.

While stocks fall in U.S. and Canada, UK, European and Asian bourses mostly rise

On Wednesday, global stock markets displayed resiliance with decent gains in many of the major cities of the world. Here is a roundup of key stock market quotes for the day:

CANADA

S&P/TSX Composite index (^GSPTSE)

In Canada, the S&P/TSX Composite index recorded a relatively modest decrease, closing at 18,947.85, down 38.64 points, or 0.20 percent. The total trading volume for the TSX was 182.128 million shares.

The TSX's performance was influenced by various factors, including commodity price fluctuations and economic indicators.

UNITED KINGDOM

FTSE 100 (UK): The FTSE 100 index closed at 7,414.34, marking an increase of 24.64 points or 0.33 percent.

EUROPE

DAX PERFORMANCE-INDEX (Germany): Germany's DAX PERFORMANCE-INDEX ended the day at 14,892.18, up by 12.24 points or 0.08 percent.

CAC 40 (France): The CAC 40 index in France closed at 6,915.07 Wednesday, showing a gain of 21.42 points, or 0.31 percent.

ESTX 50 PR.EUR (Eurozone): The ESTX 50 PR.EUR index in the Eurozone closed at 4,073.35, up by 7.98 points, or 0.20 percent.

Euronext 100 Index (Eurozone): The Euronext 100 Index in the Eurozone displayed a slight gain, closing at 1,286.38, up by 0.27 points, or 0.02 percent.

BEL 20 (Belgium): The BEL 20 index in Belgium experienced a decrease of -26.13 points, or -0.78 percent, closing at 3,314.34.

RUSSIA

MOEX Russia Index (Russia): The MOEX Russia Index on Wednesday reported a decrease of -4.14 points, equivalent to -0.19 percent, closing at 2,222.51.

ASIA

Nikkei 225 (Japan): Japan's Nikkei 225 index displayed a positive trend, closing at 31,269.92, up by 207.57 points, or 0.67 percent.

HANG SENG INDEX (Hong Kong): Hong Kong's HANG SENG INDEX concluded the day at 17,085.33, showing a rise of 93.80 points, equivalent to 0.55 percent.

SSE Composite Index (China): The SSE Composite Index in China stood at 2,974.11, marking an increase of 11.87 points or 0.40 percent. The market's trading volume was 3.174 billion shares.

Shenzhen Index (China): China's Shenzhen Index closed at 9,528.31 Wednesday, reflecting a gain of 44.40 points, equivalent to 0.47 percent. The trading volume was 3.875 billion shares.

STI Index (Singapore): The STI Index in Singapore closed at 3,078.78, down by -5.10 points, or -0.17 percent.

S&P BSE SENSEX (India): The S&P BSE SENSEX in India closed at 64,049.06, reflecting a decrease of -522.82 points, equivalent to -0.81 percent.

NIFTY 50 (India): The NIFTY 50 index in India experienced a decrease of -159.60 points, equivalent to -0.83 percent, closing at 19,122.15.

IDX COMPOSITE (Indonesia): Indonesia's IDX COMPOSITE index reported an increase of 27.63 points, or 0.41 percent, closing at 6,834.39.

FTSE Bursa Malaysia KLCI (Malaysia): The FTSE Bursa Malaysia KLCI in Malaysia closed at 1,442.51 Wednesday, showing a gain of 6.86 points, equivalent to 0.48 percent.

KOSPI Composite Index (South Korea): The KOSPI Composite Index in South Korea displayed a decrease of -20.34 points, or -0.85 percent, closing at 2,363.17.

TSEC weighted index (Taiwan): Taiwan's TSEC weighted index showed a gain of 49.13 points, equivalent to 0.30 percent, closing at 16,358.89.

OCEANIA

S&P/ASX 200 (Australia): Australia's S&P/ASX 200 index reported a slight decrease of -2.60 points, or -0.04 percent, closing at 6,854.30.

ALL ORDINARIES (Australia): The Australian ALL ORDINARIES index meantime showed a slight gain of 0.70 points, or 0.01 percent, closing at 7,046.30.

S&P/NZX 50 INDEX GROSS (New Zealand): The S&P/NZX 50 INDEX GROSS in New Zealand experienced a decrease of -76.58 points, or -0.70 percent Wednesday closing at 10,884.04.

AFRICA

Top 40 USD Net TRI Index (South Africa): The Top 40 USD Net TRI Index in South Africa declined by -22.52 points, equivalent to -0.62 percent, closing at 3,638.67.

MIDDLE EAST

TA-125 (Israel): The TA-125 index in Israel concluded the day at 1,627.75, experiencing a decrease of -4.97 points, or -0.30 percent.

EGX 30 Price Return Index (Egypt): Egypt's EGX 30 Price Return Index reported a significant increase of 754.60 points, or 3.37 percent Wednesday, with a trading volume of 348.119 million shares.