“The cloud division’s importance is critical in driving AI services and applications,” said Jay Woods, chief global strategist for Freedom Capital Markets. “Investors were hoping to see more bang for their buck and were disappointed.”

The Chinese government’s move to open an antitrust probe into Google is the latest development in a long and entangled relationship that goes back to the early 2000s

China's anti-monopoly regulator said on Tuesday it had launched an investigation into Alphabet's Google, minutes after an additional 10% tariff on Chinese goods imposed by U.S. President Donald Trump came into effect.

The three major stock indexes closed higher on Tuesday, aided by energy stocks, while investors saw reason for optimism for a trade breakthrough between the U.S. and China after President Donald Trump delayed tariffs for Canada and Mexico.

Gold rose to a new all-time high after US President Donald Trump’s 10% tariffs on China prompted swift retaliation from Beijing, buoying haven demand.

Some calm is returning to Wall Street, and U.S. stock indexes are making only modest moves after much of Europe and Asia rose earlier in the day.