NEW YORK (TheStreet) -- Stocks lost ground Wednesday, weighed down by lackluster earnings from tech heavyweights Intel (INTC) and IBM (IBM) and nervousness ahead of another round of Spanish bond sales on Thursday.
The pullback follows Tuesday's stellar session, which was the best day for the broad markets in more than a month. Wednesday's selling was widespread but the financials, tech, conglomerates, energy and utilities were under the most pressure. Breadth was negative with winners outpacing losers 2-to-1 on both the New York Stock Exchange and the Nasdaq.
The Nasdaq shed more than 11 points or 0.4% to finish at 3031, recovering from a session low of 3024.
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