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By Caroline Valetkevitch
The dollar recovered from recent weakness against the euro
In the oil market, the counter-seasonal build of 1.5 million barrels in gasoline in the latest week, along with an increase in U.S. production, pressured prices.
Brent crude futures
"Crude broke $52 on WTI, that is the strongest correlation we have right now away from the case-by-case earnings we have," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
The Dow Jones Industrial Average <.DJI> was down 104.72 points, or 0.51 percent, to 20,418.56, the S&P 500 <.SPX> lost 3.27 points, or 0.14 percent, to 2,338.92 and the Nasdaq Composite <.IXIC> added 17.11 points, or 0.29 percent, to 5,866.58.
Limiting losses were upbeat earnings from Morgan Stanley
Questions still hung over the 'reflation' trades that had lifted markets since Donald Trump became U.S. president. A run of disappointing U.S. economic data and doubts the Trump administration will progress with tax cuts have quelled expectations of faster inflation.
The pan-European STOXX 600 index <.STOXX>, which hit a three-week low on Tuesday, ended up 0.2 percent, while Britain's FTSE 100 <.FTSE> index fell 0.5 percent.
British stocks are vulnerable to a rising pound because more than two-thirds of FTSE 100 company earnings are derived from operations overseas.
Sterling was just off a six-month peak against the dollar above $1.28
The greenback was 0.3 percent higher against the yen and up 0.1 percent against the euro.
Four days before the first round of the presidential election in France, just a few points separate the top four candidates, including two who oppose the euro - the far-right's Marine Le Pen and the far-left's Jean-Luc Melenchon.
In the U.S. Treasury market, 10-year notes
Gold slipped as the dollar gained, with spot gold
(Additional reporting by Jamie McGeever in London and Chuck Mikolajczak and Julia Simon in New York; Editing by Hugh Lawson and Nick Zieminski)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)