U.S. stocks closed mostly higher Wednesday, with energy leading, as investors digested economic data and the start of the United Kingdom's divorce from the European Union.
The Dow Jones industrial average fell about 40 points, with UnitedHealth contributing the most losses.
"We might be seeing a bit of buyer's remorse from yesterday," said Mike Bailey, director of research at FBB Capital Partners. He also said that "there is a realization that [Brexit] is actually happening."
The S&P 500 ended 0.1 percent higher, with energy rising 1.2 percent. The sector popped after weekly data from the Energy Information Administration showed a smaller-than-expected crude inventory build. U.S. crude rose 2.4 percent to settle at $49.51 per barrel.
The Nasdaq outperformed, rising 0.4 percent higher.
"The market is trading in a wait-and-see mode to see whether the administration will be able to move on with tax reform," said Ernie Cecilia, CIO at Bryn Mawr Trust.
U.S. equities rallied on Tuesday, on the back of strong consumer confidence data while worries about the Trump administration's ability to push through key reforms dissipated.
"What's frustrating is I don't know if yesterday is an indication that things are back on track," said Tom Siomades, head of Hartford Funds Investment Consulting Group. "There seems to be a lack of progress" on the Trump agenda.