Stocks Ended Lower as Trade Concerns Simmered

U.S. stocks ended lower on Tuesday, as the likelihood of a prolonged trade war between the United States and China once again kept risk appetite in check. The Dow Jones Industrial Average fell 237.92 points, or 0.93%, to 25,347.77, the S&P 500 lost 23.67 points, or 0.84%, to 2,802.39. The Nasdaq Composite retreated 29.66 points, or 0.39%, to 7,607.35.

U.S. oil futures ended higher Tuesday, but global crude prices finished flat, as traders continued to weigh risks to supplies, as well as demand. West Texas Intermediate crude for July delivery climbed 51 cents, or 0.9%, to settle at $59.14 a barrel. July Brent finished unchanged from Monday’s settlement at $70.11 a barrel.

U.S. President Donald Trump on Monday said he was “not yet ready” to make a deal with China, although he expected one could be reached in the future. An expanding tariff battle between the two sides has raised concerns the trade war would lead to a global economic slowdown.

Workday Inc. (WDAY) on Tuesday reported a loss of $116.3 million in its fiscal first quarter. The company said it had a loss of 52 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 43 cents per share.