U.S. stocks slid Wednesday as investors returned focus to the latest batch of corporate earnings. Wall Street also continued to weigh the outlook for future Federal Reserve policy moves.
The Dow Jones Industrials surrendered 75.15 points at 34,081.54.
The S&P 500 fell 17 points to 4,147.
The NASDAQ Composite skidded 71.13 points to 12,042.66.
Chipotle slid more than 4% after missing expectations on the top and bottom lines in its latest results. Meanwhile, CVS collected more than 2% and Uber gained 6%, following earnings that came in above Wall Street estimates.
Investors are looking to post-bell earnings from companies including Walt Disney and Robinhood for more insights into how corporate America has handled recent interest rate hikes.
Stocks closed near session highs after a volatile bout of trading on Tuesday, driven mainly by Fed Chair Jerome Powell's remarks that inflation has started easing. His comments reiterated those given at his press conference last week, further bolstering investor hopes that the central bank will soon pause or pivot on interest rate hikes.
Prices for the 10-year Treasury were static, keeping yields at Tuesday's 3.69%.
Oil prices advanced 82 cents to $77.96 U.S. a barrel.
Gold prices were static to $1,884.80 U.S. an ounce.