The NASDAQ Composite dipped on Wednesday as Wall Street struggled to extend its rally despite another strong batch of corporate earnings.
The Dow Jones Industrials took a step back 24.11 points to 30,499.69.
The S&P 500 dropped 14.66 points to 3,705.37.
The tech-heavy NASDAQ slumped 55.91 points to 10,716.49.
The moves came even as Netflix shares rallied 11% after the streaming giant posted earnings and revenue that beat estimates as well as strong subscriber growth for the third quarter.
United Airlines climbed 4.6% after it also beat estimates on the top and bottom lines.
The solid start to earnings season comes as many on Wall Street have reset their earnings projections lower and investors are worried about a recession. Even though equities have rallied in the first two days of the week, Treasury yields remain high and were climbing on Wednesday, suggesting that recession fears are still intact.
Among the biggest loses in the NASDAQ were Chinese tech stocks JD.com and Pinduoduo, each falling more than 5%. Abbott Labs was one of the worst performers in the S&P 500, falling nearly 6% despite beating third-quarter expectations.
Tech earnings will be in full swing next week, but IBM and Tesla are on deck to report Wednesday. Social media firm Snap will report later in the week.
In economic data, investors are looking forward to housing starts on Wednesday. The Federal Reserve's so-called Beige Book, the central bank's report on the current state of economic conditions, will come out as well.
Treasury prices recovered lost ground, dropping yields to 4.08% from Tuesday's 4%. Treasury prices and yields move in opposite directions.
Oil prices grabbed 89 cents to $83.72 U.S. a barrel.
Gold prices fell back $19.40 to $1,636.40 U.S. an ounce.