Tuesday's relatively muted action in markets follows losses on Monday when Trump posted a flurry of letters to social media that announced new tariff rates ranging from 25% to 40% on more than a dozen countries starting August 1.

Stock futures fell Monday following the U.S. government’s announcement that tariffs are set to go into effect Aug. 1. The Dow Jones Industrial Average futures slid by 53 points, or 0.1%, while the S&P 500 and Nasdaq 100 futures dipped 0.4% and 0.5%, respectively.