The U.S. stock market appears to be taking a breather from setting fresh highs as interest rates in the bond market climb, leaving the S&P 500 sharply lower Wednesday.

Tesla highlights an active slate of corporate earnings on Wall Street Wednesday with a third quarter update after the closing bell.

Keeping indexes in check was GE Aerospace, which tumbled 9% and was the heaviest weight on the S & P 500. The company, which began trading independently this spring after splitting off from the former conglomerate General Electric, reported stronger profit for the latest quarter than analysts expected, but its revenue fell short of forecasts.

U.S. stocks are slipping as some more steam comes out of Wall Street’s huge, record-breaking rally. The S&P 500 fell 0.4% in Wednesday morning trading.

U.S. stocks fell Wednesday as more steam came out of Wall Street’s huge, record-breaking rally. The S&P 500 sank 0.9% for its first three-day losing streak since early September. It was coming off two small losses since setting an all-time high on Friday,