S&P 500 dips from record, snaps 8-day win streak ahead of key inflation data; European stocks close lower as traders digest U.S. inflation data 
The S&P 500 closed lower Tuesday for the first time in nine sessions as investors took some profits after an October rally and awaited key inflation data ahead. 
The broad equity index retreated nearly 0.4% to 4,685.25. The Dow Jones Industrial Average shed 112.24 points, or 0.3%, to close at 36,319.98. The Nasdaq Composite ticked down 0.6% to 15,886.54. 
The October producer price index increased 0.6% month over month, the Labor Department said Tuesday, in line with the Dow Jones consensus estimate. Still, wholesale prices jumped 8.6% in October from a year ago, the hottest annual pace on record in nearly 11 years. 
Investors are awaiting the release of another key inflation reading Wednesday. The closely watched October consumer price index is also expected to show a 0.6% jump compared to the prior month. 
PayPal on Tuesday was a notable laggard on the S&P 500 and Nasdaq Composite, sinking roughly 10.5%. The digital payments company missed on quarterly revenue expectations and issued weaker-than-expected fourth-quarter and full-year guidance. 
Tesla shares fell nearly 12%, also weighing on the S&P 500 and Nasdaq Composite. The stock continued its retreat after founder Elon Musk this weekend asked in a Twitter poll whether he should sell 10% of his stock, with nearly 58% of respondents saying yes. Even after Tuesday’s pullback, Tesla is up 45% this year. 
On the upside, shares of GE added about 2.7% after the industrial giant announced it will split into three public companies focusing on aviation, healthcare and energy. The stock led gains on the S&P 500. 

The pan-European Stoxx 600 closed down by 0.2% provisionally, having earlier been in positive territory. Basic resources shares slid 1.2%, while the retail sector was up 1.2%. 
Swedish Match fell 5.2% after JPMorgan cut the stock to “underweight.” Darktrace was the worst individual performer, falling 6.1% as investors took profit following a 12% surge in the share price a day earlier. 
Source: CNBC, Investing.com