Concern about the US's escalating tariff conflict with China is believed to be the cause of the market turbulence in recent days. On Friday, the S&P recorded the largest decline on a single day since April, and on Monday, the index bounced back with the largest increase since May.
On Tuesday, the S&P 500 fell 0.2 percent and the technology-heavy Nasdaq composite index fell 0.8 percent, while the Dow Jones industrial index rose 0.4 percent.
The major banks JP Morgan, Goldman Sachs, and Wells Fargo all presented quarterly results that were better than expected. The shares of JP Morgan and Goldman Sachs fell 1.9 and 2.0 percent, respectively, while Wells Fargo rose 7.2 percent.
