Source: Sharecast
As of 1515 BST, the Dow Jones Industrial Average was down 0.73% at 41,959.84, while the S&P 500 lost 0.52% to 5,880.95 and the Nasdaq Composite came out of the gate 0.47% weaker at 19,023.03.
The Dow opened 310.23 points lower on Monday, more than reversing modest gains recorded in the previous session despite Donald Trump claiming that China had violated their preliminary trade agreement, reviving fears that the US may be on the brink of a protracted trade war.
Following Trump's claims, Beijing went so far as to blame Washington for failing to uphold its end of the deal struck by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Geneva, where the pair agreed to a 90-day suspension of the majority of tariffs.
However, National Economic Council director Kevin Hassett indicated over the weekend that Donald Trump and Chinese President Xi Jinping could possibly have a conversation regarding trade before the end of the week.
Trump's tariffs were mostly struck down by Court of International Trade last week, with the federal court ordering the White House to stop collecting duties. Although a day later, a federal appeals court granted Washington's request to temporarily pause that ruling. Also worth noting was news that Trump told American steelworkers that he would be doubling tariffs on steel imports to 50%, with effect from 4 June.
On the macro front, S&P Global's manufacturing PMI was downwardly revised to 52 in May, falling below a preliminary reading of 52.3. New orders to US manufacturers increased and stocks of inputs increased a survey record.
Elsewhere, the Institute for Supply Management's manufacturing PMI fell a third straight month in May, dropping to 48.5 from 48.7 in April, missing market expectations for a reading of 49.5.
Finally, construction spending dropped by 0.4% month-on-month in April to a seasonally adjusted annual rate of $2.15trn, according to the Census Bureau, following March's revised 0.8% decrease and missing market forecasts of a 0.3% rise. Private sector spending fell 0.7%, while public spending edged up 0.4%. On an annualised basis, construction spending shrank by 0.5% in April.
Federal Reserve chairman Jerome Powell will deliver a speech at 1800 BST.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $306.79 1.62%
Boeing Co. (BA) $208.96 0.83%
Chevron Corp. (CVX) $137.25 0.52%
Apple Inc. (AAPL) $201.12 0.13%
Nike Inc. (NKE) $60.26 0.02%
Walt Disney Co. (DIS) $112.91 0.01%
Dowdupont Inc. (DWDP) $0.00 0.00%
Microsoft Corp. (MSFT) $460.17 -0.04%
Intel Corp. (INTC) $19.53 -0.08%
Walmart Inc. (WMT) $98.37 -0.19%
Dow Jones - Fallers
3M Co. (MMM) $144.25 -2.76%
Salesforce.Com Inc. (CRM) $259.69 -1.99%
Johnson & Johnson (JNJ) $152.41 -1.80%
Dow Chemical Co. (DOW) $27.28 -1.69%
Procter & Gamble Co. (PG) $167.23 -1.57%
Caterpillar Inc. (CAT) $342.51 -1.47%
Merck & Co. Inc. (MRK) $75.60 -1.39%
Home Depot Inc. (HD) $362.83 -1.29%
Goldman Sachs Group Inc. (GS) $594.00 -1.25%
American Express Co. (AXP) $291.14 -1.09%
S&P 500 - Risers
Nucor Corp. (NUE) $122.06 11.61%
Newmont Corporation (NEM) $55.45 5.18%
Freeport-McMoRan Inc (FCX) $39.84 3.53%
Helmerich & Payne Inc. (HP) $15.68 2.82%
Apache Corp. (APA) $17.44 2.53%
Devon Energy Corp. (DVN) $30.93 2.21%
Kohls Corp. (KSS) $8.30 2.09%
Advanced Micro Devices Inc. (AMD) $112.99 2.04%
Microchip Technology Inc. (MCHP) $59.14 1.90%
Diamondback Energy Inc. (FANG) $136.95 1.78%
S&P 500 - Fallers
Bath & Body Works, Inc. (BBWI) $26.95 -4.14%
Leggett & Platt Inc. (LEG) $8.70 -3.97%
CenturyLink Inc. (LUMN) $3.78 -3.70%
Centene Corp. (CNC) $54.45 -3.53%
Illumina Inc. (ILMN) $79.38 -3.48%
Constellation Brands Inc. Class A (STZ) $172.22 -3.40%
Masco Corp. (MAS) $60.34 -3.33%
LyondellBasell Industries (LYB) $54.67 -3.23%
Ford Motor Co. (F) $10.05 -3.18%
Brighthouse Financial, Inc. (BHF) $57.96 -3.10%
Nasdaq 100 - Risers
Microchip Technology Inc. (MCHP) $59.14 1.90%
Broadcom Inc. (AVGO) $246.38 1.78%
Nvidia Corp. (NVDA) $136.40 0.94%
Baidu Inc. (BIDU) $82.60 0.85%
Meta Platforms Inc. (META) $652.51 0.78%
Trip.com Group Limited (TCOM) $63.07 0.67%
NetEase Inc. Ads (NTES) $122.57 0.67%
Costco Wholesale Corp. (COST) $1,047.05 0.66%
Lam Research Corp. (LRCX) $81.21 0.51%
Electronic Arts Inc. (EA) $144.48 0.49%
Nasdaq 100 - Fallers
Sirius XM Holdings Inc (SIRI) $20.71 -4.47%
Illumina Inc. (ILMN) $79.38 -3.48%
Adobe Systems Inc. (ADBE) $403.11 -2.89%
DENTSPLY Sirona Inc. (XRAY) $15.52 -2.88%
Tesla Inc (TSLA) $337.14 -2.69%
American Airlines Group (AAL) $11.12 -2.54%
Qvc Group Inc Series A (QVCGA) $4.00 -2.44%
Charter Communications Inc. (CHTR) $386.84 -2.38%
Synopsys Inc. (SNPS) $454.02 -2.15%
Fastenal Co. (FAST) $40.47 -2.10%