Stocks closed lower on Wall Street Thursday, undercut in part by a discouraging report showing that layoffs are picking up across the country along with confirmed new coronavirus cases.

The S&P 500 had its first loss in five days and its biggest drop in nearly four weeks. Technology companies had the sharpest drops after a better-than-expected profit report from Microsoft wasn’t enough to satisfy investors expecting even more.

On Thursday:

The S&P 500 fell 40.36 points, or 1.2%, to 3,235.66.

The Dow Jones Industrial Average dropped 353.51 points, or 1.3%, to 26,652.33.

The Nasdaq composite lost 244.71 points, or 2.3%, to 10,461.42.

The Russell 2000 index of small company stocks inched up 0.06 points, or less than 0.1%, to 1,490.20.

For the week:

The S&P 500 is up 10.93 points, or 0.3%.

The Dow is down 19.62 points, or 0.1%.

The Nasdaq is down 41.77 points, or 0.4%

The Russell 2000 is up 16.88 points, or 1.1%.

For the year:

The S&P 500 is up 4.88 points, 0.2%.

The Dow is down 1,886.11 points, or 6.6%.

The Nasdaq is up 1,488.81 points, or 16.6%.

The Russell 2000 is down 178.27 points, or 10.7%.