US indices end in red, Dow Jones sheds 390 points

US indices declined at the close of Tuesday’s session amid uncertainty surrounding the outlook for global trade. This came after Trump’s mixed statements about tariffs and upcoming trade deals with several countries, while the investors awaited the outcome of the Federal Reserve meeting, set to conclude tomorrow.

Dow Jones Industrial Average dropped 0.95%, or 389 points, to 40,829 points, after touching 40,759 points.

Similarly, S&P 500 Index fell 0.77% to 5,606 points. Nasdaq Composite edged down 0.87%, to 17,689 points. The Stoxx Europe 600 index lost 0.2% to 536.35 points, trimming earlier losses after dropping 1% earlier during the session.

Germany's DAX inched down 0.45%, ending the session at 23,249 points, while France's CAC 40 lost 0.4% to 7,696 points. Meanwhile, UK's FTSE 100 remained stable at 8,597 points.

Japan financial markets were closed to commemorate the Constitution Memorial Day, which marks the enactment of the post-World War II constitution.

Brent crude futures for July delivery rose by 3.19%, or $1.92, to settle at $62.25 per barrel.

US WTI crude futures for June delivery rose 3.43%, or $1.96, to $59.09 per barrel.

As for gold, June futures rose by 3% to $3,422.80 an ounce.

The Federal Reserve is expected to keep its key interest rates steady within the range of 4.25% to 4.50% at the conclusion of its meeting tomorrow. However, investor attention is focused on Chairman Jerome Powell’s post-meeting press conference, seeking insights into policymakers’ assessments of the impact of tariffs on inflation.