U.S. stocks finished lower on Thursday, extending losses into a third session, as investors considered the timing of any reductions in the Federal Reserve's monetary stimulus.
"The market has been sideways now for the last month or so as investors are digesting what the Fed may do with their quantitative easing program. We won't know until it occurs whether it's priced in or not," said Paul Nolte, managing director at Dearborn Partners in Chicago.
Ciena fell sharply after the provider of fiber-optic networking gear for telecommunications companies reported fourth-quarter adjusted earnings of 16 cents a share, below Wall Street's expectations.
Facebook shares rose after S&P Dow Jones Indices said the social-networking company would join the Standard & Poor's 500 Index next week.
Hilton Worldwide Holdings rose sharply in making its return to the public market. The hotelier, which was taken private in 2007, on Wednesday priced its initial public offering at $20 a share.
Oracle declined after RBC Capital Markets cut its rating on its stock.