U.S. equities slid on Tuesday as investors reassessed the outlook for trade policy following a federal appeals court ruling that struck down President Donald Trump’s tariff plan. The S&P 500 and Nasdaq each lost nearly 1%, while the Dow also retreated.Corporate Movers:
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Constellation Brands (STZ): Shares dropped after the Modelo and Corona maker cut its full-year outlook, citing weaker beer demand and tariff impacts.
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Kraft Heinz (KHC): Stock tumbled as the company announced plans to split into two separate entities.
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Block (XYZ): Fell on a downgrade from BNP Paribas, which flagged slowing growth despite recent stock gains.
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PepsiCo (PEP): Advanced after Elliott Investment Management disclosed a $4 billion stake and pressed for changes to lift shareholder value.
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Biogen (BIIB): Rose after the FDA approved its once-weekly Alzheimer’s drug Leqembi, developed with Eisai.
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Corning (GLW): Gained following an upgrade from UBS, highlighting AI-driven demand for fiber optics
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