US stocks tipped lower on Tuesday as crosscurrents from bank earnings, a chip sell-off, and volatile oil prices clouded the market outlook.

The Dow Jones Industrial Average ( ^DJI ) fell by 0.2%, while the S&P 500 ( ^GSPC ) traded near the flat line. The Nasdaq Composite ( ^IXIC ) declined by 0.1% as chip stocks dragged.

South Korea's KOSPI (^KS11) index fell more than 5%, weighed down by declines in memory stocks Samsung (005930.KS) and SK Hynix (000660.KS), deepening a broader sell-off in the chip sector. The pullback came after Chinese memory maker CXMT (688825.SS) announced progress on a more efficient design.

Adding to angst, Broadcom CEO Hock Tan likened investors speculating on AI to "a casino" on Monday. "A lot of investors have no clue what they are investing in," the chipmaker's CEO said.

Attention also turned toward big bank earnings, which mark the unofficial start of the third quarter earnings season. JPMorgan Chase ( JPM ) reported a rare miss on expected profits while Wells Fargo ( WFC ), Citigroup ( C ) and Goldman Sachs ( GS ) each handily exceeded analyst expectations.

Still, rising year-over-year profits from these giants weren't enough to offset a more cautious mood from executives after a banner second quarter. The KBW Nasdaq Bank index ( ^BKX ), a benchmark for US bank stocks, tumbled over 1%.

Oil prices fell on Tuesday after Brent crude (BZ=F) topped $105 per barrel and gasoline prices tied 2022 for the most days above $4 per gallon in a single year.