Nasdaq Leads Markets Lower On Wednesday (SPY, QQQQ, GLD, USO, TLT, UUP)

Stocks fell on Wednesday as the July rally in equities is seemingly running out of steam, at least in the near-term. Whether this is just a pause in a longer-term up move, or the beginning of another leg down is a point of significant contention on Wall Street. The Dow Jones Industrial Average fell 40 points to close at 10,498. The widely watched blue-chip index traded in a range between 10,463 and 10,548. The SPDR S&P 500 ETF

lost 0.65% to finish at $110.74. Volume was extremely light with only 163 million shares trading hands compared to a three month daily average of 287 million. The PowerShares QQQ Trust ETF

, which tracks the Nasdaq 100, was particularly hard hit, losing 0.80% to $46.05. Again, volume was less than half of the three month daily average for the quad Q's with only 52 million shares being traded. Gold moved marginally higher, but not nearly enough to put a dent in its recent losses. Currently, COMEX gold futures are trading at $1,162.40. The SPDR Gold Trust ETF

gained 0.24% to $113.78. NYMEX crude oil futures lost 0.66% to settle at $76.99. The United States Oil Fund ETF

shed 0.89% to $34.36 as macro concerns appear to be keeping oil from rising above the $80 level for now. Treasury prices, which have been falling during the recent rally, made up some ground today as investors sought to park capital in U.S. debt. The iShares Barclays 20+ Year Treasury Bond ETF

gained 0.32% to $98.97. The yield on the 10-year note fell 6.4 basis points to 2.98%. The U.S. Dollar was essentially flat on the session. The DB US Dollar Index Bullish ETF

, which tracks the performance of the dollar versus a basket of foreign currencies, fell 0.04% to $23.89. The Dollar Index itself fell 0.02%. The closely watched EUR/USD pair is currently trading at $1.2990.