The Dow Jones Industrials stumbled 302.47 points to 34,504.99.
The S&P 500 dropped 22.55 points to 4,489.06
The NASDAQ Composite was in the red all morning, but had risen to within 8.77 points of breakeven by noon to 14,100.05. Energy stocks rallied Wednesday as oil prices rose.
Schlumberger and Marathon Oil were among the top gainers on the S&P 500, respectively rising about 3% and 2%.
General Mills added 2% after the food maker reported better-than-expected quarterly earnings Wednesday and raised its full-year outlook.
On the downside, Adobe shares fell about 9% after the company forecasted lower-than-expected profit and revenue in its fiscal second quarter.
Traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.
Treasury prices gained ground, lowering yields to 2.37% from Tuesday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices regained $5.19 to $114.46 U.S. a barrel.
Gold prices brightened eight dollars to $1,929.50 U.S. an ounce.