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Stocks ended down Tuesday after climbing during early trading hours.
The Nasdaq fell 335 points, or 2.15%. The Dow Jones Industrial Average finished down 320 points, or 0.8%, while the S&P lost 79 points (1.6%).
As of about 10 a.m. Eastern, all three indexes were up by at least 2%. The Dow eventually fell 1,775 points from its daily high, which occurred about an hour after market open Tuesday.
Big Tech stocks including Nvidia (NVDA+2.52%) (-1.4%), Tesla (TSLA-0.96%) (-4.9%), Microsoft (MSFT+1.86%) (-0.9%) and Meta (META-0.59%) (-1.1%) were all down after climbing earlier in the day. The Magnificent 7 stocks had $1.8 trillion wiped off their combined market caps in the previous three trading sessions.
Stocks now have suffered four consecutive days of volatility and steep declines following the unveiling of President Trump’s tariffs. Monday had featured the highest trading volume for U.S. markets in at least 18 years at roughly 29 billion shares, according to CNBC.
Tuesday’s early rebound came on the heels of Treasury Secretary Scott Bessent’s comments that the Trump administration is open to negotiating deals to reduce tariffs, saying the U.S. could “end up with some good deals,” according to The Wall Street Journal. But investors quickly lost confidence.
The Dow now has lost 10.1% in the past month, while the S&P has shed 11.3% and the Nasdaq 12.6%.
The Nasdaq, which is in a bear market, is down 20.8% this year. The S&P and Dow Jones are close to bear market territory, which occurs when stock market indexes decline 20% from their recent peaks.
The S&P 500 is down 17% from its high on February 19, while the Dow has declined 15% since December 4.