Stocks extended losses on Tuesday as investors weighed a batch of disappointing earnings results while they looked ahead to a key inflation report due out Wednesday. The tech-heavy Nasdaq Composite was the biggest loser, falling over 1%, while the Dow Jones Industrial Average and S&P 500 Index slipped lower into the red.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.42% or -17.59 points to 4,122.47

Dow Jones Industrial Average (DIA  ): -0.18% or -58.13 points to 32,774.41

Nasdaq Composite Index (QQQ  ): -1.19% or -150.53 points to 12,493.93

Wall Street was weighed down by another warning from chipmaker Micron (MU  ) that its revenue may fall short of its previous guidance due to "macroeconomic factors and supply chain constraints."

The news came a day after Nvidia (NVDA  ) announced preliminary earnings that showed early Q2 revenue coming in well below prior estimates, with the chipmaker blaming waning demand for gaming chips. The iShares Semiconductor ETF (SOXX  ) was down about 4.6% by the end of the session.

Beyond chips, Novavax (NVAX  ) took a beating on Tuesday, with shares felling nearly 30% after the drugmaker slashed its full-year sales guidances on poor demand for its recently authorized COVID-19 vaccine. The company now expects to generate $2 billion to $2.3 billion in revenue in 2022, down from its previous guidance of $4 billion to $5 billion.

Elsewhere, Ford (F  ) announced it is increasing the starting prices of its electric F-150 Lightning pickup truck due to "significant material cost increases and other factors." The automaker said the increases will be $6,000 and $8,500, depending on the model, and will not impact customer who have already ordered a vehicle.

After the bell, earnings from Coinbase (COIN  ) and Roblox (RBLX  ) will be closely watched by investors.

Wall Street is also looking ahead to Wednesday's Consumer Price Index (CPI) reading for July that will provide more insight on the state of the U.S. economy. The report is expected to show a slight slowdown in inflation, which will help the Federal Reserve determine its next steps. Economists expect a reading of 8.7% year-over-year in July, down from 9.1% in June, according to Dow Jones.