Technology giant Apple saw shares dive 10% in after-hours trading, wiping $50bn off the market cap value, as its latest update to the market left analysts underwhelmed.
Progress in the fiscal cliff talks being held in Washington has given Wall Street a lift as the threat of a possible recession is averted.
US stock markets saw a third consecutive day of losses following Barack Obama's victory in the presidential election this week.
Wall Street bounced back shortly after open today following a two day lock-down forced by extreme weather conditions in New York City.
Shares in Google closed down 8% after the tech giant's third quarter results - revealing a 20% drop in profits - were mistakenly released ahead of the US market close.
Apple shares led the fallers on the Nasdaq shortly after open following a disappointing second quarter trading update from the tech giant.
Stronger than expected employment data could not prevent Wall Street selling off at the open this afternoon.
Shares on the major US stock markets shed more than 2% overnight as weak manufacturing data from the US, Europe and China fuelled fears of a global slowdown.
Wall Street opened higher this afternoon as investors anticipated central bank stimulus measures would be forthcoming when the Federal Reserve's policy meeting concludes on Wednesday.
Gold slid over 6% last month, making it the biggest May loss for the precious metal since a near 10% fall in 1982.