Some calm is returning to Wall Street, and U.S. stock indexes are making only modest moves after much of Europe and Asia rose earlier in the day.

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.

Nvidia and other U.S. tech stocks are holding steadier Tuesday, a day after tumbling on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poure

The threat of a punishing trade war sent Wall Street on a roller coaster Monday. After initially falling sharply on worries about President Donald Trump’s tariffs, U.S. stocks pared their losses after Mexico said it had negotiated a one-month reprieve.

Wall Street swung between sharp and more modest losses on Monday as stock markets worldwide sank on concerns President Donald Trump’s tariffs may ignite a punishing trade war. The S&P 500 was down 0.9% in afternoon trading after Asian and European indexes logged worse drops.

Trump's imposition of tariffs on imports from China, Mexico and Canada rattled markets, with shares of media companies falling lower.