Traders work on the floor at the New York Stock Exchange in New York City, U.S., July 15, 2025.

The Dow Jones Industrial Average fell Tuesday as worries over U.S. inflation and a mixed bag of big bank earnings dragged the blue-chip index lower. The Nasdaq Composite , meanwhile, got a boost from gains in Nvidia.

The 30-stock Dow lost 313 points, or 0.5%. The The Nasdaq jumped 0.5%, lifted by a more than 4% rise in Nvidia shares after the chip company said it hopes to "soon" resume deliveries of its H20 GPU sales to China. The S&P 500 dipped 0.1%, easing from a fresh record high it reached earlier in the session.

June inflation data released Tuesday represented an increase from May inflation levels, despite the headline numbers matching expectations.

The consumer price index increased 0.3% on the month, putting the annual inflation rate at 2.7%, matching a consensus poll from Dow Jones. So-called core CPI, which excludes food and energy prices, grew 0.2% month over month, slightly less than expected. Year over year, it expanded by 2.9%, matching estimates.

"While it's a relief to see Tuesday's CPI in-line with expectations, it still showed that inflation was hotter in June than it was in May," said Skyler Weinand, chief investment officer of Regan Capital. "The big question for the inflation picture is tariffs. It's taking some time for tariffs to show up in the data, but it's highly likely that a tariff-driven inflation reckoning is coming."

Several financial heavyweights released earnings Tuesday morning that failed to impress investors.

Wells Fargo beat earnings, but a reduction in net interest income guidance sent shares lower by more than 4%. Shares of JPMorgan Chase edged lower even though the bank posted better-than-expected second-quarter results driven by strong trading and investment banking revenue. Asset manager BlackRock slipped more than 6% on a quarterly revenue miss.

Citigroup bucked the negative trend in financials, rising about 1% after the bank topped second-quarter estimates.

Wall Street is hoping that the second-quarter earnings season will boost a stock market that's already near all-time highs. Expectations are low ahead of the reports, however. The S&P 500 is projected to post a blended earnings growth rate of 4.3% on a year-over-year basis, according to FactSet data. That would be mark the lowest growth rate for the index going back to the fourth quarter of 2023.