Federal Reserve (Fed) officials' comments on the prospect of policy tightening rejected positive input from corporate reports to see equities sink ahead of the weekend.
Treasury yields continue to be at their highest level in 14 years with investors digesting Fed officials' hawkish comments on implementing rate hikes as inflation still looks set to decline.
Also weighing on sentiment was weak unemployment benefits claims data, returning concerns about wage growth and pushing the greenback to strengthen.
As a result, the Dow Jones Industrial index fell 0.26% to 30,344.04 while the S&P 500 lost 0.78% to 3,666.19 and the Nasdaq Composite fell 0.66% to 10,610.27.
The situation in Europe is seen to be slightly different with the announcement of the resignation of the British Prime Minister, Liz Truss prompting a positive close.
Europe's STOXX 600 index rose 0.26% and MSCI's gauge of global shares fell 0.55%.
In the Asian region, Japan's Nikkei 225 slipped 0.24% with the Topix losing 0.33% while South Korea's Kospi fell 0.23% and the Kosdaq fell 0.37%.
Australia's S&P/ASX 200 index fell 0.68% and MSCI's broadest Asia Pacific index fell 0.43%.
Looking at the benchmark Treasury yield, the 10-year note fell 18.32 in price to yield 4.2029% from 4.129% but was still at a 14-year high.
Additionally, the 30-year bond fell 36/32 in price to yield 4.2051% from 4.127%.
The currency summary showed the dollar index falling 0.02% with the Euro up 0.13% at $0.9784 while the Yen weakened 0.10% at $150.05 and the Pound gained 0.13% at $1.1229.
