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.

Worries are high that Trump’s tariffs are damaging the economy, particularly after last week’s worse-than-expected report on the job market.