The S&P 500 retreated Wednesday, breaking its recent upward momentum as the cash index dropped 0.72% while surging Treasury yields and geopolitical jitters pressured broader equities. The December S&P 500 futures contract opened at 7,839.00, compared with Tuesday’s 7,831.75 settlement.

The overnight session traded under steady pressure as market participants digested a jump in benchmark sovereign bond yields and monitored diplomatic talks during Chinese President Xi Jinping’s visit to Washington. S&P 500 futures traded as high as 7,843.25 and as low as 7,785.75.

The session concluded near the day’s low at 7,787.25, losing 44.50 handles from the prior settlement of 7,831.75.

Among the top components of the index, Meta Platforms Inc (NASDAQ: META) emerged as the biggest gainer. The tech conglomerate was able to advance by $7.51, or 1.02%, to close at $744.10 for the day.

That performance was over 1 percentage point better than the cash index’s decline of 0.72%.

Conversely, the biggest loser ended up being Alphabet Inc Class A (NASDAQ: GOOGL). For the day, the tech giant declined by $13.33, or 3.80%, to close at $337.83.

Tomorrow, market participants can look forward to earnings reports from Darden Restaurants (DRI), BlackBerry (BB), and TD SYNNEX (SNX) before the opening bell, followed by Costco Wholesale (COST) after the close, alongside weekly initial jobless claims and finalized gross domestic product data.