S&P Ends in Red After Volatile Session

The S&P 500 staged a big comeback from its lows on Tuesday, but gave a lot of it back again before the closing bell as U.S. and China traded blows in a renewed trade feud.

President Donald Trump criticized China for not buying soybeans, a comment that pushed the S&P 500 into the red to finish the session.

The 30-stock index soared 203.66 points, or %, to close Tuesday at 46,271.24

The much-broader index fell back 10.41 points to 6,644.31

The tech-heavy NASDAQ plummeted 172.91 points to 22,521.70

Tech stocks such as Nvidia remained under pressure. However, as a strong start to the earnings season serves as an encouraging sign that fundamentals remain strong.

Citigroup hiked 4.6% and Wells Fargo rose 8.3%, respectively, on better-than-expected earnings. JPMorgan and Goldman also beat estimates, but they fell slightly.

Stocks opened the day lower after China overnight moved to tighten its grip on global shipping, adding fuel to an already volatile global trade backdrop. China imposed sanctions on five of South Korea’s Hanwha Ocean’s U.S. subsidiaries.

This will forbid organizations and individuals in China from doing business with the affected companies. The move, the Chinese government said, aims at strengthening China’s security.

China imposed sanctions on five of South Korea’s Hanwha Ocean’s U.S. subsidiaries. This will forbid organizations and individuals in China from doing business with the affected companies. The move, the Chinese government said, aims at strengthening China’s security.

The move, the Chinese government said, aims at strengthening China’s security.

U.S. Treasury secretary Scott Bessent said Monday to the Financial Times that China’s recent action signals its economic weakness, adding that the country’s leaders “want to pull everybody else down with them.”

U.S. Trade Representative Jamieson Greer then told the media Tuesday that it depends on China’s next actions if the 100% additional tariffs threatened by Trump go into effect Nov. 1 or even sooner.

But Trump hit China late Tuesday again on Truth Social, saying the country choosing to not buy U.S. soybeans was ’an economically hostile act.” Stock indexes pulled back from their highs slightly into the close following Trump’s post.

Prices for the 10-year Treasury took off Tuesday, lowering yields back to Monday’s 4.03%. Treasury prices and yields move in opposite directions.

Oil prices deleted $1.04 to $58.45 U.S. a barrel.

Gold prices took on $21.00 to $4,154.00 U.S. an ounce.