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NEW YORK (CNNMoney) -- A slew of weak earnings reports pressured U.S. stocks Friday.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq declined between 0.7% and 0.9%.
McDonald's (MCD, Fortune 500) and General Electric (GE, Fortune 500) were the biggest drags on the Dow. Both companies reported earnings that fell short of forecasts.
The tech sector continued to disappoint after two tech giants, Microsoft (MSFT, Fortune 500) and Google (GOOG, Fortune 500), reported results that fell short of expectations. Microsoft's sales were flat, while Google missed analysts' estimates on both sales and profit when it accidentally reported earnings ahead of schedule.
A new reading on housing didn't do much to reverse Wall Street's doom and gloom.
The National Association of Realtors said September's existing home sales came in at an annual rate of 4.75 million. That was down from the 4.83 million pace the previous month but up 11% from the rate of sales a year earlier.
While the overall market remains under pressure, shares of home builders Toll Brothers (TOL), Hovnanian Enterprises (HOV), PulteGroup (PHM), KB Home (KBH), and Lennar (LEN) gained between 1% and 2%.
Fear and Greed Inde
Overseas, European Union leaders in Brussels agreed late Thursday to establish a eurozone-wide banking supervisor in 2013 designed to help prevent future catastrophic bank failures that could threaten the monetary union.
European stocks were lower Friday morning. Britain's FTSE 100 slumped 0.3%, the DAX in Germany fell 0.8% and France's CAC 40 lost 0.6%.
Meanwhile, Asian markets closed mixed. The Shanghai Composite slid 0.2%, the Hang Seng in Hong Kong gained 0.2%, and Japan's Nikkei added 0.2%.
Friday also marks the 25th anniversary of the worst one-day stock plunge in history, known as "Black Monday," when the Dow dropped 22.6%.
Companies: Honeywell (HON, Fortune 500) posted third-quarter profits that topped forecasts, but revenue disappointed.
Sandisk (SNDK, Fortune 500) shares climbed 8%, following quarterly results late Thursday that trounced expectations.
Related: Chipotle loses its sizzle
Shares of Chipotle Mexican Grill (CMG) dropped more than 15%, after the company reported third-quarter earnings that missed expectations and slower sales growth. Hedge fund manager David Einhorn recommended shorting the stock several weeks ago.
Related: Obama's record on oil and gas
Currencies and commodities: The dollar rose against the euro and Japanese yen, but slipped versus the British pound.
Oil for November delivery gained 2 cents to $92.12 a barrel.
Gold futures for December delivery fell $7.20 to $1,737.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 1.81% from 1.83% late Thursday. 
First Published: October 19, 2012: 9:45 AM ET
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