The Dow had tumbled almost 540 points over Monday on Tuesday amid a broad market sell-off as U.S. Treasury yields surged.
The S&P 500 Healthcare index was the day's biggest loser among the 11 major sectors, dropping by 2.13%.
The Dow Jones industrial average added 72.50 points, or 0.3 percent, to 26,149.39.
A surge in Boeing led Wall Street out of a two-day slump on Wednesday, but US stocks pared gains in early afternoon trading as investors awaited the Federal Reserve's comments to gauge the future path of monetary policy.
Mr Pavlik said: "Investors are getting a bit anxious about inflation which has led some people to believe that the Fed might be more aggressive when it comes to raising rates".
The S&P 500 was down 27.82 points, or 0.97 per cent, at 2,825.71 and the Nasdaq Composite was down 60.17 points, or 0.81 per cent, at 7,406.33.
The sell-off, volatility and rising bond yields mark a turn for U.S. markets that have been making gains for months, racing past one milestone after another.
Wall Street stocks tumbled for a second straight session Tuesday, with the Dow posting the largest decline since May, as health care shares sank on worries about Amazon's push into the sector.
The CBOE Volatility index, widely considered the best fear gauge in the stock market, rose 6.86 percent to 14.79.
According to Bespoke Investment Group the S&P 500 could end its record streak without consecutive declines of 0.5 per cent. The Japanese yen strengthened 0.17 per cent versus the greenback at 108.79 per dollar. Pfizer Inc was down 3.1 percent despite its better-than-expected earnings and upbeat 2018 guidance.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.
Harley-Davidson dropped 8.1 percent after the motorcycle maker forecast a drop in shipments this year. Express Scripts, McKesson, Humana, Cigna, UnitedHealth, CVS Health and Centene were down between 5.3 percent and 7.2 percent.
Declining issues outnumbered advancers on the NYSE by 2,011 to 731.
The euro, whose strength had crimped stocks late last week, eased back from its highs, but Europe's STOXX 600 index edged 0.2 per cent, as investors held their breath for the results rush.