(CNBC) — U.S. stocks ended little changed on Wednesday, with the S&P 500 holding steady near a two-month low, as investors sorted through developments in Ukraine and considered two derailed deals.

Sprint declined after the wireless carrier retreated from its offer for T-Mobile US after two months of lobbying failed to clear regulatory hurdles; Twenty-First Century Fox gained after rescinding its $80 billion bid to purchase Time Warner. Walgreen fell after the drugstore chain said it would not use its acquisition of Europe’s Alliance Boots to move its headquarters overseas.

“There are a lot of investors who still need to make up that exposure from their short fall last year, who come in and buy any dip aggressively,” said Joe Peta, managing director at Novus Partners.

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