Portugal Colonial - Global stocks mostly fall on lackluster results from Netflix, others

Major US indices fell, with the Dow retreating from a record the prior day, as lackluster results from Netflix added to angst that upcoming reports from other tech giants may also fall short.

"Any time you've got stocks that are priced with high expectations, if you're not meeting those expectations, then the market is going to struggle with that," said Dave Grecsek, a partner at wealth management firm Aspirant.

More broadly, the market is wondering if "we are overextended here in this artificial intelligence trade," he added.

Most European equity indices also fell following declines in leading Asian markets earlier.

Further earning reports from US tech giants and other blue chips in the coming days, including from Tesla, were also keeping investors wary as they gauged the business outlook and the impacts of US President Donald Trump's tariffs.

Late Wednesday, Tesla reported a 37 percent drop in profits to $1.4 billion in results that missed analyst forecasts. The company cited a drag from tariffs and other expenses.

London's benchmark FTSE 100 index was a rare climber as the pound dropped on lower-than-expected UK inflation data that signaled another potential interest-rate cut from the Bank of England this year.

Gold was once again a major focus after plunging six percent on Tuesday, a sell-off from record highs that rattled investor confidence in what is traditionally a safe-haven asset.

Traders are "desperately trying to gauge whether... (Tuesday's) historical collapse was indicative of a new period of weakness or simply a case of blowing off steam after a dramatic surge into record highs", said Joshua Mahony, chief market analyst at Scope Markets.

Gold fell a further 1.4 percent to around $4,060 an ounce Wednesday after chalking up a record peak above $4,381 on Monday.

The retreat hit the share prices of gold miners, while individual companies were impacted by earnings updates.

In Paris, L'Oreal shed 6.7 percent after the cosmetics giant posted third-quarter earnings that undershot analysts' expectations, with US tariffs weighing on American sales in particular.

On the upside, Barclays and UniCredit posted positive results, easing fears of a new banking crisis emerging in the United States.

Analysts have also cited lingering tensions over US-China trade relations following recent back and forth between Beijing and Washington.

Among individual companies, Netflix slumped more than 10 percent after the streaming giant reported earnings that missed estimates.

Netflix executives told financial analysts on an earnings call that absent the hefty cost in Brazil due to a tax dispute, it would have exceeded its operating margin forecast in the quarter.

- Key figures at around 2055 GMT -

New York - Dow: DOWN 0.7 percent at 45,590.41 (close)

New York - S&P 500: DOWN 0.5 percent at 6,699.40 (close)_

New York - Nasdaq: DOWN 0.9 percent at 22,740.40 (close)

London - FTSE 100: UP 0.9 percent at 9,515.00 (close)

Paris - CAC 40: DOWN 0.6 percent at 8,206.87 (close)

Frankfurt - DAX: DOWN 0.7 percent at 24,151.13 (close)

Tokyo - Nikkei 225: FLAT at 49,307.79 (close)

Hong Kong - Hang Seng Index: DOWN 0.9 percent at 25,781.77 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,913.76 (close)

Euro/dollar: UP at $1.1606 from $1.1600 on Tuesday

Pound/dollar: DOWN at $1.3356 from $1.3371

Dollar/yen: UP at 151.99 from 151.93 yen

Euro/pound: UP at 86.90 pence from 86.76 pence

Brent North Sea Crude: UP 2.1 percent at $62.59 per barrel

West Texas Intermediate: UP 2.2 percent at $58.50 per barrel

P.Serra--PC