12:26 PM EDT, 05/28/2025 (MT Newswires) -- US equity indexes fell ahead of quarterly Nvidia ( NVDA ) earnings and as government bond yields jumped after midday on Wednesday.

The Nasdaq Composite fell 0.2% to 19,166.2, with the S&P 500 down 0.2% to 5,907.5 and the Dow Jones Industrial Average 0.3% lower at 42,232.8. All sectors except communication services fell, with energy and utilities leading the decliners.

Nvidia's ( NVDA ) earnings are due after the bell on Wednesday.

Nvidia's ( NVDA ) fiscal Q1 results and guidance are a "clear positive catalyst and bright green light" for the overall tech sector, Wedbush said in a research note on Tuesday. Although the artificial intelligence demand around the company's Blackwell graphics processing unit microarchitecture is significantly higher than its supply, investors will be looking at the impact of President Donald Trump's export limit on the company's H20 chips and uncertainty related to business with China, the brokerage said.

Most US Treasury yields jumped, with the 10-year up 5.7 basis points to 4.49% and the two-year 3.3 basis points higher at 3.98%.

The Federal Reserve will release minutes for the May 6-7 Federal Open Market Committee meeting later on Wednesday. The meeting occurred before the de-escalation in the trade conflict between the US and China, and the minutes will likely be stale, according to a research note from D. A. Davidson.

In company news, Abercrombie & Fitch ( ANF ) shares soared 23% intraday after the apparel retailer's fiscal Q1 results came in higher than forecast and it raised the top end of its full-year sales guidance.

West Texas Intermediate crude oil futures jumped 1.3% to $61.68 a barrel.