US stocks finished down as investors focused on Nvidia’s first quarter results

Reuters says US stocks declined at the end of trading on Wednesday, breaking two consecutive sessions of gains, as investors were weighing Nvidia's quarterly results. The semiconductor producer was the last of the "Magnificent 7" tech companies to report earnings this season. 

Nvidia’s sales exceeded analysts expectations. At the same time, the company's earnings in the first quarter were slightly below Wall Street's forecasts due to tighter US restrictions on exports of its artificial intelligence chips to China. Nvidia shares fell 0.5% in regular hours, but rose 3% in extended trading, the news agency says.

On Wall Street, all three stock indices ended trading with a decline, led by utilities, energy, and material companies. The Dow Jones Industrial Average fell 0.58% to 42,098.70, and the Nasdaq Composite fell 0.51% to 19,100.94. The S&P 500 index lost 0.56% and reached 5,888.55.

Bill Strazzullo of Bell Curve Trading believes the market is in the process of discovering a fair price, which could lead to trading in a narrow range in the coming months.