Nasdaq 100 futures were down Thursday night after disappointing earnings from Amazon were added to the already strained index.

Nasdaq-linked futures fell 0.7%. Dow Jones Industrial Average futures fell 0.5% and S&P 500 futures lost 0.1%.

Amazon led the extended trade declines, having plunged after the company released lower-than-expected quarterly revenue and issued a disappointing fourth quarter sales forecast.

Apple shares were also initially lower after the company announced iPhone revenue weaker than expected, but they have since reversed higher. The company has consistently beaten Wall Street estimates for quarterly earnings and revenue.

Technology names were also a dark cloud in the market in regular trading. Earlier in the day, the Nasdaq Composite lost 1.6%, due to a rout in Meta and other tech stocks, and the S&P 500 fell 0.6%. Meanwhile, the Dow Jones rose 194.17 points, or 0.6%, for its fifth straight day of victories, helped by GDP data that suggested inflation could ease.

Liz Young, head of investment strategy at SoFi, said the pain investors are feeling in earnings is unavoidable and necessary to move forward in the current cycle.

“We’ve been waiting for this to happen,” she said on CNBC’s “Closing Bell: Overtime.” “There’s usually a sequence of events: first the market goes, then earnings go, then the economy goes. So that’s ultimately the part where we see earnings being hit and I don’t think that’s either a mistake or technology Technology is what has been under pressure in this market since the beginning.

“It’s just another check on the list of things we need to do before we can really finish this part of the cycle,” she added.

The Dow Jones and S&P are poised to end the week up around 3% and 1.5%, respectively. The Nasdaq is expected to end slightly lower.

Friday brings a quieter day for gains. As investors digest the bloodbath in technology, they will have Chevron and Exxon Mobil on deck before the bell as well as AbbVie and Colgate-Palmolive.

In economic data, traders are eagerly awaiting the Personal Consumption Expenditures Price Index, the Federal Reserve’s favorite inflation indicator, as well as consumer sentiment and pending home sales.