(CNBC) -- U.S. stocks took a dip on Wednesday as investors weighed a continuation of strong earnings reports from big-box retailers against lingering inflation concerns.
The Dow Jones Industrial Average fell 212.9 points, or 0.5%, and sat about 1.7% from its record. The S&P 500 slipped 0.2% to 4,688.75 and the Nasdaq Composite lost 0.3% to 15,921.57. Both were less than 1% from their records. The Dow was dragged down by a 5% drop in Visa.
The markets are coming off a more positive day in which all three of the major averages moved upward after economic data and corporate earnings signaled U.S. consumers are ramping up spending despite rising prices. The S&P 500 and Nasdaq are still higher for the week, however, while the Dow is lagging.
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