Volume was lower on the Nasdaq exchange while higher on the New York Stock Exchange compared with Monday, in preliminary numbers. On the Nasdaq exchange, falling stocks edged out rising ones by more than 2-to-1. In yet another rotation on the NYSE, winners slightly edged out losers.

US stocks retreated on Tuesday as investors digested the latest wave of corporate earnings, economic data, and various tariff updates. Palantir (PLTR) stock jumped roughly 7% after the company's earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time.