Read about the market's reaction to President Donald Trump's speech in Davos, Switzerland where he called for lower rates and cheaper oil, as well as how corporate earnings were received and other developments on Thursday.

"I'll demand that interest rates drop immediately and likewise they should be dropping all over the world," Trump said to business leaders from around the world. The yield on the 10-year U.S. Treasury note retreated from its intraday high of 4.664% following Trump's comments but closed at 4.648%, up from 4.599% on Wednesday.

The S&P 500 and Nasdaq have both felt pressure as shares of major tech companies came under pressure Monday. Investors continue to keep a close eye on rising Treasury yields, which heighten worries about valuations, particularly for some of the market's most highly valued names.