Wall Street stocks retreated for a second straight session Wednesday while oil prices moved higher as Chinese online retail giant Alibaba surged on new AI investments.

Major US indices pulled back further from Monday's record

"We've given up some ground today," said FHN Financial's Chris Low. "It really does look mostly."

Briefing.com described Wednesday's trading as a shift from the bargain-hunting impulse that has surfaced after other recent dips. But Wednesday's losses were "modest in the scope of recent gains," Briefing said in its note.

Following a mixed day on European stock markets, the broad-based S&P 500 finished down 0.3 percent.

Trade Nation analyst David Morrison characterized Tuesday's selloff as shallow.

"The general feeling is... that any pullback is a buying opportu

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