The US markets ended lower on Tuesday as uncertainty rose about what will happen following a ceasefire in the war with Iran, which had been set to expire Wednesday. Traders overlooked the Commerce Department released a report showed US retail sales rose sharply by 1.7% in March 2026, surpassing market expectations of 1.4% and following an upwardly revised 0.7% increase in February. This marks the steepest growth since March 2025, driven largely by a record 15.5% surge in gasoline station receipts as fuel prices spiked amid the escalating conflict with Iran. Traders also paid no heed towards a report released by the National Association of Realtors indicated that US pending home sales rose by 1.5% from the previous month in March of 2026, extending the upwardly revised 2.5% increase from February, and significantly outperforming the market expectation of a 0.1% increase. The increase was carried by a 4.4% increase in the Northeast region and a 3.8% jump in the South region, which offset the 2.6% drop in the West and 1.3% decrease in the Midwest. 

Nasdaq slipped 144.42 points or 0.59 percent to 24,259.96, S&P 500 fell 45.13 points or 0.63 percent to 7,064.01 and Dow Jones Industrial Average was down by 293.18 points or 0.59 percent to 49,149.38.