Stocks fell for a second consecutive session on Wednesday, as investors sold off tech shares and weak earnings from financial heavyweights pressured the broader market.

The Dow Jones Industrial Average (DIA  ) lost about 40 points to close at 49,149.63, while the S&P 500 Index (SPY  ) fell 0.5% to end the session at 6,926.60. The tech-heavy Nasdaq Composite (QQQ  ) also dropped 1% to end the day at 23,471.74 as a decline in Nvidia (NVDA  ) shares led to broad losses across the sector.

On the earnings front, Bank of America (BAC  ), Citigroup (C  ) and Wells Fargo (WFC  ) each suffered losses on Wednesday despite better-than-expected results, as losses from JPMorgan Chase's (JPM  ) lackluster earnings continued to impact the sector. The session's weakness also added to the trio's weekly losses following President Donald Trump's call for credit card interest rates to be capped at 10% last week, sending Citigroup and Wells Fargo each about 7% lower week-to-date and Bank of America down roughly 6%.

"The economy and our customers remain resilient, but we continue to closely monitor our portfolios for signs of weakness," Wells Fargo CEO Charlie Scharf told analysts during the company's earnings call, adding that the bank encourages "continued careful consideration of all proposals," regarding credit card interest rates "to make sure we get to the right outcomes."

In economic news, wholesale prices rose at a less-than-expected rate in November, according to seasonally adjusted figures from the Bureau of Labor Statistics on Wednesday. The headline producer price index reading, which measures final demand prices, rose 0.2% on the month and 3% annually. Excluding food and energy, core PPI rose 0.2% month-to-month and 2.5% annually.

Meanwhile, retail sales rose 0.6% for November, the Commerce Department reported Wednesday, coming in below Dow Jones economist expectations for an increase of 0.4%. Excluding autos, sales rose by a hotter-than-expected 0.5%.