Stocks fell broadly on Tuesday, with the S&P 500 on track for its fourth straight decline, as traders weighed concerns about economic growth and global trade.

The broad-market index fell 0.2%. The Nasdaq Composite fell 1%, with Nvidia's 1.4% drop leading the decliners. This week's losses have pulled the tech-focused Nasdaq into negative territory for the year. Meanwhile, the Dow Jones Industrial Average was trading higher by 220 points, or 0.5%.

The market fell after the Conference Board's latest consumer confidence survey came in much weaker than economists had expected. It followed a string of weak data releases last week, including weak manufacturing and retail sales figures. Walmart's cautious forward guidance added to souring sentiment about the health of consumers and the economy.

"All of that has come together to call into question the foundation of what has been the strength of the U.S. economy for the last several years, which is the consumer and the job market," said Ross Mayfield, investment strategist at Baird Private Wealth Management.

Investors turned to the U.S. bond market for safety. The benchmark 10-year Treasury yield fell below 4.3%, hitting its lowest level since December.

Bitcoin, which has been correlated with stocks, fell below $90,000 to a three-month low. The leading coin is trading nearly 20% below its all-time high hit on President Donald Trump's inauguration day.

Shares of major banks slumped Tuesday as recession fears mounted. Goldman Sachs, Wells Fargo and JPMorgan Chase each fell more than 1%.

Momentum stocks that have driven the market higher also slumped. In addition to Nvidia, Palantir

lost more than 3%, bringing its shares down about 13% for the week. Meta Platforms

fell 1.1%. Electric vehicle maker Tesla, another favorite among retail investors, fell more than 8%. The decline pushed Tesla's market capitalization below the $1 trillion threshold.

Rising trade concerns also contributed to market uncertainty. President Donald Trump announced Monday that tariffs on imports from Canada and Mexico "will continue" after the current 30-day moratorium expires. The White House is also preparing tighter restrictions on Chinese semiconductor exports, according to a report from Bloomberg News.

Investors are also looking ahead to Nvidia's quarterly results, due Wednesday after the bell, for more insight into the health of the artificial intelligence trade. The stock is down nearly 5% in 2025, underperforming the broader market. (Newsmaker23)

Source: CNBC