After Tesla and AT&T released poor earnings results on Thursday, US stocks were down.

The Dow Jones Industrial Average was down 94 points, or 0.3%, at 11:36 ET (15:36 GMT), while the S&P 500 and the NASDAQ Composite were each down 0.5%.

This week’s earnings have been varied, which has caused stocks to tremble. Tesla Inc. (NASDAQ:TSLA) stock fell 8.6% after the electric vehicle manufacturer disclosed a lower-than-anticipated gross profit margin following consecutive price reductions. CEO Elon Musk claims that Tesla prioritises sales growth over financial success.

After the telecommunications behemoth’s first-quarter sales failed to meet expectations, AT&T Inc. (NYSE:T) shares are down 8.9%. The credit card provider American Express (NYSE:AXP) likewise saw a range of outcomes.

With varied economic data on the state of the economy, the earnings season so far has been uneven. According to the Federal Reserve’s Beige Book released on Wednesday, lending decreased in March and April due to the financial instability brought on by Silicon Valley Bank and Signature Bank’s failures. Economic activity is cooled by less lending activity.

Nevertheless, futures traders are making the wager that the slowdown was insufficient to persuade the Fed to stop raising interest rates. When the Fed meets again in May, the majority predict that rates will increase by another quarter of a percentage point.

Unemployment claims rose slightly last week, to 245,000, above expectations.

Zions Bancorporation (NASDAQ:ZION) and Truist Financial Corp. (NYSE:TFC) are regional banks whose shares are declining following disappointing quarterly profits.