The market surpassed the bottom on Tuesday as investors fell below $84,000 in first quarter revenue, trade development and Bitcoin dip.
The Dow Jones' industrial average was 155 points (0.38%), while the S&P 500 and Nasdaq both fell about 0.1%.
Bank stocks provided some relief. Bank of America and Citigroup rose above 4% and 2% respectively after falling below revenue expectations.
The broader SPDR S&P Bank ETF rose nearly 2%. Still, optimism was offset by weaknesses in other sectors and global uncertainty.
Boeing fell nearly 2% following a Bloomberg report that Chinese regulators told airlines to halt new purchases of planes. The move will bring Boeing deeper into the ongoing US-China trade dispute.
High-end European stocks led by LVMH also fell. Meanwhile, global automakers like Toyota and Hyundai tracked modest profits following Monday's U.S. auto rally, according to a CNBC report.
Bitcoin (BTC) is currently trading at $83,950. According to data from Crypto.News, the rest of the Crypto market fell by 1-4% in many major currencies.
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Trade negotiations between China and the US
President Trump said Tuesday that China must return to the negotiation table to reduce tariffs as it is “too important” for U.S. consumers to lose. Some electronic devices, such as smartphones and semiconductors, have been temporarily exempt from mutual tariffs, but the White House has shown that the exemption may be short-lived.
Despite profits earlier this week, all three major US indices have been declining since early April. The S&P 500 has fallen by more than 4% since Trump's April 2nd tariff announcement, with the Dow and Nasdaq each dragging over 3%.
Wall Street's “fear gauge” eased below 30 after hitting 60 last week.
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