Stock market today: Live updates

These moves followed a relatively muted session during Tuesday’s regular session that ultimately saw the three major averages close in the red following back-to-back winning sessions. The Dow shed nearly 156 points, or 0.4%, while the S&P 500 slipped 0.2%. The Nasdaq Composite closed marginally lower.

The session brought some respite from the market’s roller coaster ride since the Trump administration announced its “reciprocal” tariffs on April 2. The Dow and the Nasdaq have fallen about 4.4% each since then, while the S&P 500 has dropped 4.8%

Allianz’s chief economic advisor Mohamed El-Erian said that investors shouldn’t get used to this market tranquility.

“Fundamentally, things have not been resolved. Fundamentally, the game of chicken between China and the U.S. continues, and other countries are trying to figure out how to navigate this. And fundamentally, the game of chicken between the administration and the Federal Reserve continues,” he said Tuesday on CNBC’s “Closing Bell: Overtime.” “So welcome the calmness, but let’s not get used to it, because I suspect there’s volatility ahead.”

Another potential market catalyst awaits Wednesday morning: March’s retail sales report. Economists polled by Dow Jones anticipate a 1.2% increase on the month, up from a 0.2% climb in February. The data arrives at a time when consumers are feeling concerned about inflation and the economy. Investors will also watch out for industrial and manufacturing production data.

Wednesday is another big day for the latest earnings season, with companies such as Travelers, U.S. Bancorp, Abbott Labs, ASML and Citizens Financial set to report results.