Stocks in the US declined on Tuesday, extending losses from the previous session, with the S&P 500 falling 0.8%, the Nasdaq sinking 1% and the Dow Jones falling about 260 points.
Investor sentiment remained subdued amid persistent tariff uncertainty and growing concerns over the impact of trade tensions on corporate earnings.
President Trump is scheduled to meet Canadian Prime Minister Carney on Tuesday, while negotiations between the US and several countries continue, though no formal agreements have been reached. Meanwhile, US imports in March soared again in anticipation of new tariffs in April. The FOMC meeting begins today, with the Fed widely expected to hold interest rates steady.
Tech and health were the worst performing sectors while energy and utilities booked gains. Palantir Technologies tumbled nearly 12% after disappointing investors, while Ford gained 1.9% despite warning that tariffs could reduce 2025 earnings by approximately $2.5 billion.
Source: Trading Economics
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