Wall Street was mixed and crude lost ground on Tuesday as investors assessed a spate of mixed earnings and signs that U.S. President Donald Trump's protracted trade war is hitting corporate profit margins,

Stocks are mixed on Tuesday as Wall Street takes a slight breather following the S&P 500’s record-setting performance, with investor focus shifting toward a wave of high-stakes earnings reports from major tech names.

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.