Stock market news today: Stocks fade into the close, Nasdaq leads losses as market rebound loses steam

Stocks failed to extend Tuesday 's rebound that snapped a three-day losing streak for the major averages.

Chip stocks led the losses on Wednesday , with AI leader Nvidia ( NVDA ) falling more than 5% .

Disney reported early Wednesday that the entertainment giant turned a profit in its streaming unit for the first time last quarter .

Airbnb stock fell almost 14% after the company offered a current quarter forecast below expectations.

Stocks turn lower in afternoon trading as tech-heavy Nasdaq Composite slips about 0.7% .

Wall Street expects second quarter EBITDA at risk of falling below $10 billion .

Nvidia ( NVDA ) rose almost 1% amid a broader gain in chip stocks after Piper Piper Piper analysts pointed investors to a "tremendous opportunity".

Super Micro's gross margin for fourth quarter gross margin came in at 11.3% , about 2 percentage points below estimates.

Super Micro was trading around $506 on Wednesday morning , off nearly 60% from its 52-week high seen in March .

Disney reported that its streaming division turned a profit for the first time, though weakness in its parks division dented an otherwise positive report.