Markets saw a mixed settlement on Wednesday, as the Dow erased its muted morning gains to finish the day with a 266-point drop, snapping its three-day win streak and falling from this week's record highs. The S&P 500, meanwhile, looked as if it would snag its third-straight record close, but wound up diving into the red in the last hour of trading. The Nasdaq also gave back most of its earlier gains to settle flat, though the tech sector did get some support from both Microsoft (MSFT) and Alphabet (GOOGL), which both surged on better-than-expected earnings reports.

The Dow Jones Average (DJI - 35,490.69) lost 266.2 points or 0.7% for the day. Microsoft (MSFT) paced the gainers with a 4.2% rise, while Visa (V) fell to the bottom, shedding 6.9%.

The S&P 500 Index (SPX - 4,551.68) fell 23.1 points, or 0.5% for the day, while the Nasdaq Composite (IXIC - 15,235.84) tacked on 0.1 point for the day. 

Lastly, the Cboe Volatility Index (VIX - 16.98) added 1 points or 6.3% for the day.

OIL RALLY COOLS OVER EIA UPDATE

Oil fell on Wednesday, thanks to an update from the Energy Information Administration (EIA), which reported U.S. crude inventories rose by 4.3 million barrels last week. News that the worlds powers and Iran could resume talks over a nuclear deal by the end of November also weighed on the commodity. The most active December-dated crude contract shed $1.99, or 2.4% to settle at $82.66 a barrel.

Gold prices rose slightly, though the $1,800 area is still proving elusive. Some experts are predicting some consolidation below this level until upcoming monetary policy updates from the U.S. Federal Reserve and the European Central Bank, both due out next Wednesday, Nov. 3. December-dated gold rose $5.40, or 0.3%, to settle at $1,798.80 an ounce.