James Gruber

The Dow Jones index finished up 0.1%, the S&P 500 was down 0.2% and the Nasdaq fell 0.7%.

A closer look at the trading day there, the S&P 500 and the Nasdaq eased from record highs on Tuesday as hotter than expected inflation data and an increasingly tenuous US-Iran ceasefire prompted investors to take money off the table near the end of a robust first quarter earnings season.

Of the 11 major sectors in the S&P 500, tech was among the worst performers with the semiconductor index tumbling 1.4%.

Recent high-flying semiconductor stocks such as Qualcomm and Intel pulled back down 11% and 9% respectively.

Elsewhere, Humana advanced 8% on a broker upgrade.

GameStock dipped 3.5% following eBay's rejection of the meme stock's $56 billion US takeover bid.

Zebra Technologies jumped 11% after the barcode scanner maker raised its annual sales growth forecast, betting on robust demand for its products that help automate manufacturing workflows.

Hims and Hers Health tumbled 14% after the telehealth firm missed Wall Street estimates for first quarter revenue and posted a surprise loss.

In U.S.

economic data has mentioned inflation increased further in April with the annual rate posting its largest gain in three years.

The consumer price index increased 0.6% last month after surging 0.9% in March.

U.S.

government bond yields meanwhile rose on Tuesday as oil prices increased on concerns about continued energy supply disruptions in the Middle East while data showed that U.S.

consumer prices rose at a brisk clip for a second straight month in April.

The U.S.

10-year Treasury yield was five points higher to 4.46%, while the U.S.

2-year Treasury yield advanced four points to 3.99%.

To the European markets now, the continent-wide FTSE Euro First 300 index ended down 1% and the UK FTSE 100 was flat.

Europe was lower in broad-based declines on Tuesday as dimming hopes for a US-Iraq peace deal sent oil prices higher and weighed on risk sentiment.

Technology shares slid 3.1% and led declines on Tuesday, tracking steep losses among AI stocks and chipmakers on Wall Street.