Tracking small-cap stocks, the Russell 2000 reversed course and skidded 0.4% lower. Volume was lower on the Nasdaq exchange while higher on the New York Stock Exchange compared with Monday. On the Nasdaq exchange, falling stocks edged out rising ones by nearly 2-to-1. In a turnaround on the NYSE, winners dug deep and edged out losers.

Stocks looked set to open in the green on Tuesday as the tariff relief rally kept rolling on, and investors braced for a Federal Reserve monetary policy meeting and a slew of Big Tech earnings. Futures tracking the Dow Jones Industrial Average were up 64 points,

The Dow Jones Industrial Average dropped 542.40 points, or 1.23%, closing at 43,588.58. The S&P 500 shed 1.60% to end at 6,238.01, while the Nasdaq Composite dipped 2.24% and settled at 20,650.13.

As President Trump unleashes his tariff blitz on the global trade market, reports show inflation is rising and that job gains weakened last month. NBC News White House Correspondent Monica Alba, NBC News Senior Policy Reporter Shannon Pettypiece and former U.