The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.5% in Tuesday's premarket activity amid ongoing global trade concerns as new tariffs are implemented.

US stock futures were also lower, with S&P 500 Index futures down 0.7%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures retreating 0.9% before the start of regular trading.

Federal Reserve Bank of New York President John Williams speaks at 2:20 pm ET.

In premarket activity, bitcoin was down by 2.9% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3% lower.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.02%, while the Vanguard Consumer Staples Fund (VDC) was flat. The iShares US Consumer Staples ETF (IYK) gained 0.3%, and the Consumer Discretionary Select Sector SPDR Fund (XLY) was flat. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) declined 0.4%.

On Holding (ONON) shares were up more than 5% pre-bell after the company swung to Q4 adjusted earnings and reported higher net sales.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.1%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.4%.

Walgreens Boots Alliance (WBA) stock was up more than 5% premarket after The Wall Street Journal reported late Monday that the company is nearing the completion of a deal with private-equity firm Sycamore Partners to take itself private for around $10 billion.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.7%, and the iShares US Technology ETF (IYW) was down 0.8%, while the iShares Expanded Tech Sector ETF (IGM) was up 1.6%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) gained 0.03%, while the iShares Semiconductor ETF (SOXX) fell by 1%.

Nayax (NYAX) shares were down more than 4% in recent Tuesday premarket activity even after the company swung to Q4 net earnings and posted higher revenue.

Energy

The iShares US Energy ETF (IYE) was down 4.4%, while the Energy Select Sector SPDR Fund (XLE) retreated by 0.8%.

Genesis Energy (GEL) stock was down 3% before Tuesday's opening bell after the company said it will redeem the outstanding principal amount of its 8% senior notes due 2027, which is co-issued with its subsidiary Genesis Energy Finance.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% higher.

Hagerty (HGTY) shares were down more than 1% pre-bell Tuesday, continuing from a 1.1% decline at the close of the previous session. The company swung to Q4 adjusted earnings and reported higher revenue.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.3% while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.

Saia (SAIA) stock was down more than 1% before the opening bell after closing Monday with a fall of 4.7%. The company said Tuesday that less-than-truckload shipments increased in the first two months of Q1.

Commodities

Front-month US West Texas Intermediate crude oil retreated 1.4% to $67.45 per barrel on the New York Mercantile Exchange. Natural gas advanced 1.3% to $4.18 per 1 million British Thermal Units. United States Oil Fund (USO) was down 1.1%, while the United States Natural Gas Fund (UNG) rose 1.7%.

Gold futures for April advanced 1.3% to $2,937.90 an ounce on the Comex, while silver futures gained 0.8% to reach $32.58 an ounce. SPDR Gold Shares (GLD) were up 1.2%, and the iShares Silver Trust (SLV) was 1% higher.