After sliding as much as 2% in the early going, the S&P 500 was down 0.1% in afternoon trading, with about 66% of the stocks in the benchmark index losing ground. At its lowest point of the day, the index had lost all of its gains following Election Day.

Stocks racked up more losses on Wall Street Tuesday as a trade war between the U.S. and its key trading partners escalated, although a bounce back in technology stocks eased some of the pain.

Comments by President Trump in a speech to Congress and the nation appeared to have scant impact on world markets.