Stocks slipped on Wednesday as renewed trade concerns offset strong gains in tech. Investors also digested the Federal Reserve's latest decision on monetary policy.

The Dow Jones Industrial Average declined 81.37 points to 25,333.82 with big exporters Caterpillar and 3M lagging. The closed 0.1 percent lower at 2,813.36 as industrials dropped more than 1 percent.

The Nasdaq Composite bucked the lower trend, however, closing 0.4 percent higher at 7,707.29 on the back of strong gains from Apple.

Reuters reported, citing a source, the Trump administration is looking at the possibility of slapping a 25 percent tariff on — after initially setting them at 10 percent.

"On trade, it seems like it's a day-by-day story," said Mike Baele, managing director at U.S. Bank Wealth Management. "Last week, it was about the de-escalation of trade tensions with Europe."

"In the short term, the impact of fiscal stimulus and strong economic data will outweigh the impact of tariffs," Baele said. But if the trade situation escalates, trace could have a more permanent impact on stocks, he said.