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EARLY GAINS FADE AS CPI ENTHUSIASM WANES

U.S. stocks have moved off their initial highs from the market open, with the Dow .DJI now firmly in negative territory, while the S&P 500 .SPX recently dipped into the red as the reaction to a cooler-than-expected inflation report in an oversold market fades.

Tariff uncertainty continues to have a dampening effect on sentiment, as U.S. President Donald Trump's increased tariffs on all U.S. steel and aluminum imports took effect and drew a swift response from Canada and Europe.

Investors were also awaiting any signs of progress for a potential ceasefire plan between Ukraine and Russia, as the Kremlin said it was awaiting details from the U.S. on the plan.

Tech .SPLRCT the only S&P 500 sector on the plus side, while declines are being led by staples .SPLRCS and healthcare .SPXHC, the two best performing on the year.

Breadth is now skewed negative, with declining issues outnumbered advancers by a 1.39-to-1 ratio on the NYSE and by a 1.07-to-1 ratio on the Nasdaq.

Below is your market snapshot:

(Chuck Mikolajczak)

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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

BOING! COOL CPI REPORT PUTS A SPRING IN WALL STREET'S STEP - CLICK HERE

U.S. STOCK FUTURES CHEER COOLER-THAN-EXPECTED CPI - CLICK HERE

EUROPEAN LUXURY IN A U.S. SLOWDOWN - CLICK HERE

WALL ST'S WOBBLES: RECESSION OR ROTATION? - CLICK HERE

BUY THE DIP, SAYS BARCLAYS ON DEFENCE - CLICK HERE

CEASEFIRE VIBES BOOST BANKS AND BUILDERS - CLICK HERE

BEFORE THE BELL: EUROPE RECOVERS, EYES ON INFLATION, EARNINGS - CLICK HERE

UKRAINE TALKS LIFT EURO BUT TARIFF WORRIES LINGER - CLICK HERE