The US markets ended lower on Tuesday amid renewed concerns about a trade war between the U.S. and Europe over President Donald Trump's efforts to take control of Greenland. Trump has threatened to impose new tariffs on several European nations if they oppose his attempt to purchase the Danish territory, which he claims is imperative for national security. Trump said the tariffs would be increased to 25 percent beginning June 1 and would remain in place until a deal is reached for the U.S. to purchase Greenland.
On the sectoral front, Airline stocks have shown a significant move to the downside on the day, dragging the NYSE Arca Airline Index down by 1.5 percent. Considerable weakness is also visible among commercial real estate stocks, as reflected by the 1.4 percent loss being posted by the Dow Jones U.S. Real Estate Index.
Dow Jones Industrial Average declined 870.74 points or 1.76 percent to 48,488.59, S&P 500 fell 143.15 points or 2.06 percent to 6,796.86 and Nasdaq decreased 561.06 points or 2.39 percent to 22,954.322.
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