Wall Street closes lower as investors size up earnings, inflation

US investors sized up mixed quarterly earnings reports from big banks and other major firms amid continuing concerns about inflation.

Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big United States companies and new data pointing to rising inflation. The S&P 500 fell 0.4 percent, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies that rely on consumer spending accounted for a big share of the decline. Technology stocks bucked the trend, helping counter some of the broader slide. Small company stocks took some of the heaviest losses.