04:16 PM EDT, 10/22/2025 (MT Newswires) -- US equity indexes closed lower on Wednesday as renewed concerns over US-China trade relations and disappointing quarterly earnings weighed on sentiment, with Netflix ( NFLX ) and Texas Instruments ( TXN ) both missing earnings expectations.

* President Donald Trump said Tuesday his expected meeting with Chinese President Xi Jinping may not happen, citing the possibility that either side could opt out due to tensions, though he emphasized the situation is "just business." Trump, who described his relationship with Xi as strong, said he still hopes to reach a favorable agreement. The two leaders are expected to meet next week during an economic conference in South Korea.

* The CBOE Volatility Index, often referred to as Wall Street's fear gauge, rose 7.2%.

* November West Texas Intermediate crude oil rose $2.34 to settle at $59.58 per barrel, while December Brent crude, the global benchmark, was last seen up $2.31 to $2.31.

* Intuitive Surgical ( ISRG ) shares rose more than 14% after the company reported Q3 results that beat expectations, boosted by a double-digit increase in global procedure volumes.

* Netflix ( NFLX ) shares dropped nearly 10%, marking the sharpest decline on both the Nasdaq and the S&P 500, after the company's Q3 earnings released overnight fell short of analysts' expectations.