NEW YORK: U.S. stock indexes were mostly lower on Tuesday as the United States said 104% duties on imports from China will take effect shortly after midnight, while the euro and European equity index futures rose after reports that Germany's political parties reached a deal on a coalition.
Stocks had been sharply higher earlier in the day, with investors optimistic that Washington might be willing to negotiate on some of its aggressive tariffs.
The Trump administration also moved to quickly start talks with other trading partners targeted by President Donald Trump's sweeping tariff plan.
Germany's NTV reported Germany's conservatives under chancellor-in-waiting Friedrich Merz on Tuesday reached a deal with the centre-left Social Democrats (SPD) to form a government. Two people with knowledge of the matter told Reuters, however, that there was not yet an agreement.
Germany's EuroSTOXX 50 futures rose 0.72%, DAX futures were up 0.55% and CAC 40 futures were up 0.43%. Bund futures trimmed losses a bit.
The euro was last up 0.41% against the dollar at $1.0948.
On Wall Street, the Dow Jones Industrial Average rose 62.46 points, or 0.16%, to 38,028.03, the S&P 500 fell 13.34 points, or 0.27%, to 5,048.75 and the Nasdaq Composite fell 79.19 points, or 0.51%, to 15,522.91.
MSCI's gauge of stocks across the globe rose 4.27 points, or 0.57%, to 749.75.
