(CNBC) -- The S&P 500 slipped 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 broad equity benchmark 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.
Coinbase’s widely watched direct listing on Wednesday opened at $381 on the Nasdaq and shot up as high as $429, but soon dipped below the debut price. As Coinbase shares traded off their highs, the price of bitcoin also fell from a record high of more than $63,800 hit earlier on Wednesday. Crypto investors were hailing the company’s stock market debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.
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