The Dow Jones Industrials dropped 234.66 points to 33,814.80.
The S&P 500 floundered 48.63 points, or 1.1%, to 4,247.49.
The NASDAQ Composite tumbled 296.93 points, or 2.3%, to 12,707.92.
The tech-heavy NASDAQ is lurching toward bear market territory, sitting about 20.4% from its intraday high. For April, the S&P 500 is off by more than 5%, the NASDAQ is down more than 9% and the Dow is down roughly 2%.
Tech shares that led Monday’s comeback struggled on Tuesday, with mega-cap names down ahead of quarterly earnings reports this week.
Microsoft and Google parent Alphabet both shed about 1% ahead of quarterly reports after the bell Tuesday. Facebook parent Meta, Amazon and Apple were also more than 1% lower Tuesday, with earnings results slated for later this week.
Elsewhere on the corporate earnings front, Dow component 3M fell about 2% despite better-than-expected earnings as the company noted macroeconomic and geopolitical challenges ahead. The stock was the biggest decline on the Dow.
UPS shares also fell 3% despite the shipper’s quarterly earnings and revenue topping expectations.
Other industrial names like General Electric and Boeing were lower in early morning trading Tuesday. GE fell more than 7%, while Boeing eased 1%.
Treasury prices picked up new ground, lowering yields up to 2.76% from Monday’s 2.82%. Treasury prices and yields move in opposite directions.
Oil prices added $1.66 at $100.20 U.S. a barrel.
Gold prices jumped $10.60 to $1,906.60 U.S. an ounce.