Stock market today: World stocks fall as investors are underwhelmed by Big Tech earnings

World stocks are lower as the earnings reporting season ramps up for big companies. U.S. futures were sharply lower, while oil prices advanced. Japan's benchmark lost more than 1% as the yen gained against the U.S. dollar. That's a potential risk for big exporters' earnings. On Tuesday, the S&P 500 fell 0.2% and the Dow slipped 0.1%. The Nasdaq composite edged 0.1% lower. Nvidia was the heaviest weight on the S&P 500, and UPS tumbled after delivering weaker profit for the spring than analysts expected. But smaller stocks in the Russell 2000 index continued their big run, gaining 1%. They’ve flipped the market’s leaderboard recently and zoomed higher amid hopes for cuts to interest rates.