Indications of further rate hikes weighed the markets down to a lower open with the Dow falling 66 points to 26,083. Nasdaq dropped 34 points to 7377.

On the upside

Nokia (NYSE: NOK) reported higher fourth quarter earnings.

Qorvo (Nasdaq: QRVO) narrowed third quarter losses more than expected.

Fourth quarter earnings rose for eBay (Nasdaq: EBAY) and the online marketplace announced that it partnered with Adyen to be its new primary payment processor.

On the downside

PayPal (Nasdaq: PYPL) will no longer be the primary payment processor for eBay (Nasdaq: EBAY).

Tractor Supply (Nasdaq: TSCO) reported lower fourth quarter net income.

United Parcel Service (NYSE: UPS) reversed year ago losses to post a profit for the fourth quarter but higher costs sent the stock price lower.

In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 fell 7 points to 2,816. Bitcoin plunged $762 to $9,284.