NEW YORK (AP) — U.S. stocks and the price of gold fell on Wednesday, as momentum on Wall Street reverses. The S&P 500 sank 0.5%, though it’s still within 1% of its all-time high set earlier this month. The Dow Jones Industrial Average dropped 334 points, or 0.7%, from its record set the day before, while the Nasdaq composite fell 0.9%.

Netflix Inc. (NFLX.O) missed Wall Street's third-quarter profit projections due to an unexpected tax bill in Brazil.

The Dow touched an intraday record high while the Nasdaq slipped as investors focused on a wave of quarterly earnings while remaining vigilant about US-China trade tensions.

Wednesday, as a Reuters report that the U. is considering curbs on a wide range of exports to China ratcheted up U.

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Netflix missed Wall Street's third-quarter earnings targets because of an unexpected expense from a dispute with Brazilian tax authorities.

Stocks are drifting near their record heights on Wall Street, while the price of gold falls again to trim more off its tremendous gain for the year.

Wall Street experienced a downturn on Wednesday as Netflix's disappointing outlook and Tesla's anticipated earnings created tension. Investors remained wary amid high stock valuations and sought reassurance in mega-cap tech earnings.