LIVE MARKETS-Stocks end down as tariff fears weigh

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STOCKS END DOWN AS TARIFF FEARS WEIGH

Stocks ended broadly lower on Tuesday as traders continued to wait for tariff deals between the United States and trading partners to be struck and as the S&P 500 faced some technical resistance after breaking a nine-day rally on Monday.

Traders are increasingly impatient to see the U.S. reach trade deals that show that trade levies won’t be as bad as feared as President Donald Trump also teases the prospect of new levies on pharma companies and the film industry.

U.S. Treasury Secretary Scott Bessent on Tuesday said the Trump administration could announce trade agreements with some of the United States' largest trade partners as early as this week, but gave no details on which countries were involved.

Trump also met Canadian Prime Minister Mark Carney to discuss the trade relationship between the two countries, with Carney telling the U.S. president that Canada would never be for sale.

Meanwhile the U.S. Treasury Department saw solid demand for a $42 billion sale of 10-year notes on Tuesday, helping to assuage concerns that foreign investors are stepping away from the market as a result of the trade wars.

The Federal Reserve is expected to keep interest rates unchanged when it concludes its two-day meeting on Wednesday and traders will focus on how Fed officials will balance concerns that tariffs will lead to higher inflation and slower growth.

The Dow Jones Industrial Average .DJI was the worst performing major index, dropping by around 1%, while the Nasdaq Composite .IXIC and S&P 500 .SPX fell 0.9% and 0.8%, respectively. Healthcare led sector losses, tumbling 2.8%, while utilities and energy were the only S&P 500 sectors to end green.

Here is Tuesday’s closing market snapshot:

(Karen Brettell)

TUESDAY'S EARLIER LIVE MARKETS POSTS:

BOFA PRIVATE CLIENTS ON A RECORD BUYING STREAK CLICK HERE

TUESDAY’S 10-YEAR TREASURY AUCTION IN FOCUS FOR FOREIGN DEMAND CLICK HERE

PRE-LIBERATION DAY TRADE DEFICIT HITS RECORD CLICK HERE

NEAR-TERM VOLATILITY ASIDE, MEXICO COULD WEATHER THE TARIFF STORM QUITE WELL - CLICK HERE

US GDP BRACES FOR SUBTLE HIT AS STUDENT LOAN PAYMENTS EMERGE FROM THEIR PANDEMIC PAUSE CLICK HERE

U.S. STOCKS PULL IN THEIR HORNS AS FED MEETING KICKS OFF CLICK HERE

S&P 500 INDEX'S MOVING AVERAGE WALL TRUMPS WIN STREAK CLICK HERE

HIDDEN RALLY? MARKET BREADTH SURGES TO NEW HIGHS CLICK HERE

EUROPE INC: A 'WAIT AND SEE' REPORTING SEASON CLICK HERE

BANK EARNINGS POSITIVE BUT STOCKS BEHAVING STRANGELY - UBS CLICK HERE

HERE'S WHY THE BOE COULD BE SET FOR A HAWKISH SHIFT CLICK HERE

STOXX SLIPS, GERMANY AND EARNINGS IN FOCUS CLICK HERE

EUROPE BEFORE THE BELL: FUTURES MIXED CLICK HERE

DOLLAR SELLING TAKES A BREATHER CLICK HERE