Stocks slipped Tuesday after President Donald Trump's shaky commentary on global trade deals, dashing hopes that progress will soon be made on the tariff front. Investors also awaited the Federal Reserve's policy decision.

The lost 389.83 points, or 0.95%, to close at 40,829.00. The shed 0.77% and settled at 5,606.91, and the dipped 0.87% to end at 17,689.66. All three of the major averages posted back-to-back declines.

Shares of shed 1.8% after the company's new car sales in Britain and Germany fell to their lowest in more than two years in April, even though demand for electric vehicles grew. shares dipped 1.8%, pulling the Dow lower. Tech giants and also declined.

Stocks wavered after Trump met with Canadian Prime Minister Mark Carney on Tuesday afternoon, marking the start of negotiations between the two leaders since since Carney assumed office earlier this year.

Trump during the meeting walked back on promises that trade deals are on the horizon, saying, "We don't have to sign deals." His statement contradicts Treasury Secretary Scott Bessent's comments earlier this week. Bessent on Monday that "we're very close to some deals," echoing comments Trump made himself on Sunday that agreements could come as early as this week.

Bessent had reiterated this sentiment in testimony to the House appropriations committee on Tuesday, noting: "Approximately 97 or 98% of our trade deficit is with 15 countries. Eighteen percent of the countries are our major trading partners. And I would be surprised that if we don't have more than 80 or 90% of those wrapped up by the end of the year, and that may be much sooner that."

To be sure, official trade deals between the U.S. and its trading partners have yet been announced. And while data issued on Monday from the Institute for Supply Management showed stronger-than-anticipated service sector activity in April, concerns around tariffs persisted.

"We'll probably go down to new lows, even when Trump dials back China to 50%," billionaire hedge-fund manager  on Tuesday. "He'll dial it back to 50% or 40%, whatever. Even when he does that … it'd be the largest tax increases since the 60s. So you can kind of take 2%, 3% off growth."

Fed meeting

The Fed began its two-day policy meeting on Tuesday, with a decision scheduled for Wednesday. The central bank is expected to keep rates steady, with suggesting just a 3.1% chance of easing.

Still, traders will be listening for Fed Chair Jerome Powell's comments on his economic outlook.

"Despite external pressure to lower rates, the Fed will likely hold strong on the current pause until we see greater clarity on the major economic factors impacting the economy," said Steve Rick, chief economist at TruStage. "As the impacts of tariffs settle in, we still broadly expect the economy to continue to shift towards a slower pace of growth than in recent months."

Stocks end Tuesday lower

Major U.S. indexes closed Tuesday in the red across the board.

The shed 0.77% to finish the session at 5,606.91, while the tech-heavy  lost 0.87% to end at 17,689.66. The  dropped 389.83 points, or 0.95%, to close at 40,829.00.

— Pia Singh

JPMorgan downgrades Sweetgreen to neutral on softening demand

JPMorgan downgraded shares of fast-casual salad chain to a neutral rating from overweight in a Tuesday note. Analyst Rahul Krotthapalli accompanied the move by lowering his price target to $25 from $32.

Shares of Sweetgreen have declined 39% this year. Krotthapalli's updated forecast implies that the stock could rise 28% from here.

As a major catalyst, the analyst pointed out that a waning macroeconomic background could put a strain on consumer demand. This, combined with excess restaurant supply, means that consumers across all income cohorts are currently "spoilt for choice" with too many options.

"We see underlying demand trends continue to soften with further impact moving into higher income demographics. Absolute value has become an issue at the brand, with most bowls/salads containing protein ranging $13-17, or 7-30% higher on average than peers," the analyst wrote. "Restaurant supply growth has been exceeding demand, driving consumer choice in a digital world where convenience is commoditized & price transparency is high."

Krotthapalli added that Sweetgreen is expected to remain free cash flow negative through the fiscal year ending in 2030.

— Lisa Kailai Han

Current market environment is reminiscent of last summer, Deutsche Bank says

The latest moves in the market, and the catalysts behind them, may not be entirely out of the ordinary, according to Henry Allen, macro strategist at Deutsche Bank.

"Looking forward, this situation has a lot of echoes of last summer," he wrote in a note on Tuesday. "Back then, the data deteriorated sharply, and markets were briefly in turmoil as investors genuinely feared whether the U.S. might head into a downturn. The Fed even cut by 50bps in September."

"But as it became clear a recession would be avoided and the data wasn't contractionary, markets recovered very quickly," the strategist continued. "Many of those parallels have been playing out again today."

Allen also believes that the market's on the heels of President Donald Trump's suggests that the tighter financial conditions that could come about as a result of the tariffs are more likely to be avoided.

"[B]y itself, the lack of a big market correction actually makes an economic recession less likely as well," he said.

— Sean Conlon

Stocks begin showing overbought indications after volatile month, Wolfe says

Wolfe Research has seen a clear turn in the market.

A month ago, as tariffs rocked financial markets, the firm was pointing out the deepest oversold condition since the Covid pandemic. Now, with the rising around 17% off lows recorded in early April, Wolfe is noting that overbought signals are starting to flash.

"Well, that was quick," Wolfe's Rob Ginsberg wrote in a Monday note to clients.

— Alex Harring

Tariff uncertainty puts the brakes on dealmaking

The pace of merger and acquisition activity has slowed to , according to data compiled by Dealogic and reported by Reuters.

According to the report, the number of deals signed globally fell in April to the lowest level since February 2005. Meanwhile, the pace of M&A activity in the U.S weakened to its lowest level since May 2009, with 555 deals signed, it said.

The value of the transactions was off as well. On a global basis, the value of the deals was $243 billion in April, which is about 20% below the monthly average, Dealogic said.

—Christina Cheddar Berk

U.S. oil production has likely peaked as prices plunge, Diamondback CEO says

U.S. onshore oil production has likely peaked and will start to decline due to the recent plunge in crude prices, Diamondback CEO Travis Stice told shareholders in a letter.

"We believe we are at a tipping point for U.S. oil production at current commodity prices," Stice said. "It is likely that U.S. onshore oil production has peaked and will begin to decline this quarter," the CEO told investors in his letter, pointing to cuts in activity levels.

U.S. crude oil prices rose more than 3% on Tuesday to $59.26 per barrel, after closing at the lowest level in four years on Monday as OPEC+ surges production. Prices are down about 17% this year as President Donald Trump's tariffs weigh on demand expectations at the same more supply is coming to market.

— Spencer Kimball

Trump says trade meetings with China will happen 'at the right time'

President Donald Trump said Tuesday that he has not yet met with Chinese officials to discuss a potential trade agreement.

"They want to negotiate, and they want to have a meeting, and we will meet with them at the right time," he said.

He also indicated his administration was not actually going to strike trade agreements with every individual country, saying "we don't have to sign deals."

"For the most part, we're just going to put down a number and say this is what you're going to pay," Trump said.

— Jesse Pound

Stocks making the biggest moves midday

Check out the companies making headlines in midday trading.

 — Shares tumbled 13.4%. Palantir posted $884 million in , while analysts polled by LSEG penciled in $863 million. However, earnings per share came in line with Wall Street expectations at 13 cents.

 – The automaker advanced 3.2% on better-than-expected first-quarter results, reversing an earlier decline. Ford reported adjusted earnings of 14 cents per share on $37.42 billion in revenue. Analysts surveyed by LSEG expected earnings of 2 cents per share and revenue of $36.21 billion. To be sure, management , citing "near-term risks, especially the potential for industrywide supply chain disruption impacting production." 

 – Shares of the freelance marketplace platform popped 19% after the company reported a beat for both adjusted earnings and revenue for its first quarter. Upwork also lifted its full-year guidance for adjusted earnings.

The full list can be found

— Hakyung Kim

Trump belittles Canada ahead of Carney meeting in Truth Social post

President Donald Trump ahead of his first in-person meeting with Canadian Prime Minister Mark Carney that Canada needs "everything" from the U.S., while the U.S. does not need "anything" other than Canada's friendship.

"I very much want to work with him, but cannot understand one simple TRUTH — Why is America subsidizing Canada by $200 Billion Dollars a year, in addition to giving them FREE Military Protection, and many other things?" Trump said in his post, published at 11:23 a.m. on Tuesday.

"We don't need their Cars, we don't need their Energy, we don't need their Lumber, we don't need ANYTHING they have, other than their friendship, which hopefully we will always maintain," Trump continued. "They, on the other hand, need EVERYTHING from us! The Prime Minister will be arriving shortly and that will be, most likely, my only question of consequence."

Tensions between the U.S. and Canada .

Last year, Canada  with the U.S. more than any other country except Mexico, with total goods trade totaling roughly $762 billion, according to the office of the U.S. Trade Representative. Canadian exports to the U.S. took a hit in March, however, while its exports to other countries saw a significant uptick.

— Pia Singh, Kevin Breuninger

Palantir slides after earnings

shares dropped nearly 12%, on pace for its worst day in about a year, as investors digested the defense technology provider's earnings report.

The company posted $884 million in first-quarter revenue, while analysts polled by LSEG penciled in $863 million. Earnings per share came in line with Wall Street expectations at 13 cents.

Analysts attributed the sell-off in part to concerns about Palantir's

— Alex Harring

Tesla shares shed 2% as overseas new car sales fall to two-year low

Shares of slipped 2% on Tuesday, weighed down by a in the U.K. and Germany.

Data on Tuesday showed that new car sales in April for Britain and Germany respectively tumbled 62% and 46% year over year. However, demand for electric vehicles rose in both countries.

The electric vehicle manufacturer has tumbled 32% in 2025. Tesla has increasingly faced competitive pressures from European and Chinese EV brands.

— Lisa Kailai Han

Trump tariffs are causing U.S. imports to plummet, hitting agriculture the hardest

The U.S. is seeing a , with the domestic agricultural sector and top farm products including soybeans, corn, and beef taking the hardest hit.

A drop in U.S. exports to the world, and China in particular, that began in January now extends to most U.S. ports, according to trade tracker Vizion's analysis of U.S. export container bookings for the five-week period before the tariffs began and the five weeks after the tariffs took effect. U.S. imports continue to plummet as businesses cancel orders from China, reflecting a 43% week-over-week drop in containers through April 28.

According to data from Bank of America, there has been no big ramp in retail inventories after the frontloading that occurred earlier this year. Supply disruptions and "lean" inventories could be ahead, the firm said.

For more, read .

— Lori Ann LaRocco, Pia Singh

Stocks open lower on Tuesday

Shortly after the opening bell, the fell 351 points, or 0.8%. The dropped 0.9%, and the lost 1.2%.

— Pia Singh

Market could hit new lows even if Trump dials back China tariffs, Paul Tudor Jones says

Billionaire hedge fund manager Paul Tudor Jones said on C온라인카지노사이트's "" that the stock market could for the year, even if President Donald Trump backs down from the current levels of tariffs on China.

"For me, it's pretty clear. You have Trump who's locked in on tariffs. You have the Fed who's locked in on not cutting rates. That's not good for the stock market," he said.

"We'll probably go down to new lows, even when Trump dials back China to 50%," the hedge fund manager added.

The S&P 500's lowest close this year was 4,982.77 on April 8.

— Jesse Pound

Trade deficit jumped to a new high in March

The U.S. hit a fresh record high in March as imports surged with consumers and businesses seeking to get ahead of tariffs, the Commerce Department reported Tuesday.

The shortfall in goods and services totaled $140.5 billion on the month, up 14% from the February total and higher than the $137.6 billion Dow Jones consensus forecast. While exports rose just 0.2%, imports jumped 4.4% to $419 billion, pushed by a $22.5 billion increase in consumer goods.

On a year-over-year basis, the deficit has increased 92.6%, or $189.6 billion. The figures came just before President Donald Trump instituted 10% across-the-board tariffs on all imports and threatened higher duties pending a 90-day negotiating period.

—Jeff Cox

Palantir, Ford among the stocks making moves in the premarket

Check out the stocks making moves before the opening bell on Tuesday:

•  – The defense technology stock fell more than 8% after in the first quarter, matching analyst expectations, according to LSEG, while revenue of $884 million topped the $863 million that analysts were looking for. Palantir also boosted its full-year revenue guidance, but FactSet's StreetAccount cited a "lower magnitude of Q1 beat, weaker Europe, slowing customer growth rates, tariffs/trade tensions, and valuation" as causes of the decline.
•  – The F-series pickup truck maker fell more than 2% after it , citing "near-term risks, especially the potential for industrywide supply chain disruption impacting production." First-quarter earnings and auto revenue came in better than expected. Other automakers also fell premarket, with General Motors and Stellantis dropping 0.3% and almost 2%, respectively. Tesla moved down nearly 2%.
•  – Shares of the biopharmaceutical company jumped nearly 10% after its $572.6 million in revenue for the first quarter topped the $559.6 million that analysts polled by FactSet were expecting. Additionally, sales of Ingrezza, a medication used to treat movement disorders, gained 8% year over year to $545 million.

Read for the full list.

— Sean Conlon

TD Cowen downgrades Church & Dwight

TD Cowen expects shares of to lose steam amid broader macroeconomic pressure for the consumer goods sector.

The firm downgraded Church & Dwight stock to hold from buy on Tuesday, and lowered its price target to $100 per share from $117. TD Cowen's outlook implies roughly 8% upside from Monday's $92.78 close. Shares have pulled back more than 11% in 2025.

"Given the lack of a positive catalyst for U.S. inflection, low exposure to higher growth international markets, and CHD's valuation premium to peers, we believe a Hold rating is warranted," analyst Robert Moskow said.

— Brian Evans

Asia-Pacific stocks mixed as investors assess trade developments in the region

Asia-Pacific markets traded mixed as investors assessed trade developments between the U.S. and countries in the region, with focus also on Asian currencies that reversed course to weaken Tuesday as the dollar appreciated.

China stocks resumed trading after the Labor Day holidays amid signs of Washington and to resolving trade disputes after resorting to tit-for-tat tariffs.

Mainland China's  index climbed 1.01% to end the day at 3,808.54, its highest level since April 3. Meanwhile, Hong Kong's  added 0.7% to close at 22,662.71.

China's Caixin services purchasing managers' index came in at a seven-month low of 50.7 in April, compared to 51.9 in the previous month.

Over in India, the benchmark  fell 0.29% while the BSE Sensex moved down 0.22% in choppy trade as at 1.42 p.m. Indian Standard Time.

Australia's benchmark ended the day flat at 8,151.40.

Japanese and South Korean markets are closed for public holidays.

— Amala Balakrishner

Stocks making the biggest moves after hours

Check out the companies making headlines in extended trading:

 — Shares dropped nearly 7% after the  reported first-quarter earnings that were in line with Wall Street's expectations. Adjusted earnings of 13 cents per share came in line with the consensus estimate, per LSEG. Palantir reported $884 million in revenue, topping the $863 million forecast by analysts.

 — The biotech stock dropped 2% on disappointing quarterly results. Adjusted earnings came in at $4.06 per share, below the $4.32 per share forecast by analysts surveyed by LSEG. Revenue of $2.77 billion also missed analysts' estimates for $2.85 billion. 

 — Shares of the toymaker declined 2.5% after management paused its 2025 full-year guidance due to tariff uncertainty. Meanwhile, first-quarter results topped analysts' estimates. 

The full list can be found

— Hakyung Kim

Stock futures open little changed Monday

U.S. stock futures were flat Monday night.

Futures tied to the S&P 500 dipped less than 0.1%, while Nasdaq 100 futures fell 0.2%. Dow Jones Industrial Average futures were just above the flatline.

— Hakyung Kim