US benchmark equity indexes closed lower on Tuesday as markets responded to the latest quarterly financial results.

The Nasdaq Composite decreased 0.1% to 16,820.33, while the S&P 500 dropped 0.2% to 5,396.61. The Dow Jones Industrial Average was down 0.4% to 40,368.72. Real estate and technology sectors posted the largest gains, while consumer discretionary was the worst performer.

US Treasury yields were lower, with the 10-year rate dropping about 4.4 basis points to 4.3% and the two-year rate sliding 1.3 basis points to 3.8%.

May West Texas Intermediate crude oil was almost flat at $61.50 a barrel on Tuesday.

The Q1 earnings season is underway, with Bank of America (BAC), Citigroup (C), and Johnson & Johnson (JNJ) reporting Q1 earnings and sales Tuesday ahead of analyst estimates.

In economic news, US import prices declined 0.1% in March, driven by lower fuel prices, according to the US Bureau of Labor Statistics. Export prices remain unchanged during the month.

Import fuel prices decreased 2.3% in March, the largest monthly drop since the index decreased 7.2% in September 2024, the BLS added.

In company news, Netflix (NFLX) was one of the top performers on the S&P 500, with shares up 5.7%. The company likely faces "limited" risks from a potential global or US economic downturn amid the Trump administration's tariffs, Oppenheimer said. Netflix has no trade exposure and could even benefit from a potential economic downturn, when consumers tend to stay home more often, analyst Jason Helfstein said.

Hewlett Packard Enterprise (HPE) was up 5.1%. Elliott Investment Management has taken a position worth $1.5 billion in Hewlett Packard Enterprise, Bloomberg reported.

Peabody Energy (BTU) has halted plans to seek $500 million in private debt, which Jefferies (JEF) was marketing earlier this year to private credit firms, Bloomberg reported. Peabody stock added nearly 3%.

Albemarle (ALB) shares were down 5.9%, the steepest decline on the S&P 500. Analysts at Citigroup, Baird, KeyBanc, Truist Securities and Wells Fargo lowered their price targets on the company's stock while maintaining existing ratings.

Gold increased 0.6% to $3,246.50 per troy ounce, while silver was up 0.4% to $32.31 per troy ounce.