S&P 500 falls from a record as tech weakness offsets rally in bank shares; European markets close slightly higher with earnings and vaccines in focus 
U.S. stocks fell from record levels in volatile trading on Wednesday amid a sell-off in technology shares, while investors digested the first batch of corporate earnings that largely exceeded expectations. 
The S&P 500 dipped 0.5% after hitting a fresh record earlier in the session. The Dow Jones Industrial Average gained 40 points. The 30-stock benchmark climbed more than 200 points at one point to touch an all-time high. The Nasdaq Composite traded 1% lower. 
Tesla, a holder of bitcoin and speculative tech play, fell more than 3%. Big Tech stocks including Amazon, Facebook, Netflix and Apple all traded at least 1% lower. 
Strong bank earnings helped support sentiment on Wednesday. Shares of Goldman Sachs climbed more than 3% after the bank blew past analysts’ expectations with record first-quarter net profits and revenues on strong performance from the firm’s equities trading and investment banking units. 
JPMorgan Chase beat analysts’ estimates on the top and bottom lines, helped by a $5.2 billion benefit from releasing money it had previously set aside for loan losses that didn’t develop. Shares of JPMorgan dipped about 1%. 
Wells Fargo also reported earnings and revenue that exceeded expectations for its first quarter. The stock gained 5%. 

The pan-European Stoxx 600 ended the session up by 0.2%, with travel and leisure stocks gaining 1.3% while utilities fell about 0.7%. 
French luxury goods group LVMH posted a sharp rebound in first-quarter earnings after the bell, bolstered by Chinese and American demand for Louis Vuitton handbags and Dior products. LVMH shares gained 2.9% by mid-afternoon on Wednesday. 
German software giant SAP slightly raised its 2021 revenue outlook on Tuesday after first-quarter earnings showed robust progress in cloud sales, sending shares 1.1% higher. 
Source: CNBC