12:22 PM EST, 11/20/2024 (MT Newswires) -- US equity indexes fell ahead of Nvidia's (NVDA) quarterly earnings to be released after market close.

The S&P 500 slid 0.7% to 5,878.1, with the Nasdaq Composite down 0.9% to 18,823.2 and the Dow Jones Industrial Average 0.3% lower at 43,162.5. Except energy and healthcare, all the other sectors retreated intraday.

The path of interest-rate reductions will continue to be based on incoming data and information and can be adjusted faster or slower depending on conditions, Federal Reserve Governor Lisa Cook said Wednesday at the University of Virginia.

Most US Treasury yields rose intraday, with the 10-year up 1.9 basis points to 4.4% and the two-year rate 2.3 basis points higher at 4.3%.

In company news, Target (TGT) slashed its full-year earnings outlook on Wednesday amid soft consumer discretionary spending trends, while the retailer's fiscal third-quarter results came in below market estimates.

Keysight Technologies (KEYS) momentum can continue through fiscal 2025, following its fiscal Q4 beat, as the company banks on artificial intelligence opportunities in the communications business and amid signs of improvement in wireless tech, Morgan Stanley said in a Wednesday note.

West Texas Intermediate crude oil was little changed at $69.55 a barrel.