Market Downturn Amid New Tariff Announcements

Major U.S. stock indexes closed lower on Tuesday following President Donald Trump's announcement of impending tariffs on chips and pharmaceuticals. The news, coupled with a disappointing services sector report, sent waves through the markets.

Corporate Earnings in Focus

Amid the market's downturn, companies like Caterpillar, Fox, and Pfizer released their quarterly financial results, with others such as Amgen, Rivian, and Snap set to report after the bell.

Indexes and Stocks Hit Hard

The Dow Jones fell by 0.14%, with Salesforce dropping 1.91%. The Nasdaq 100 wasn't spared, declining 0.73% as Vertex Pharmaceuticals plummeted 20.60%. The S&P 500 also saw a decrease of 0.49%, with Gartner leading the downturn at a 27.55% loss.

Meanwhile, the euro remained steady against the dollar, trading at $1.15728.