U.S. stocks slipped on Tuesday after a fresh batch of trade rhetoric and soft economic data revived concerns about growth. The Dow Jones Industrial Average fell 0.14% to 44,111.74, the S&P 500 lost 0.49% to 6,299.19 and the Nasdaq Composite dropped 0.65% to 20,916.55. A key gauge of services activity—the ISM non-manufacturing PMI—barely held in expansion territory at 50.1, its weakest reading in three months, while President Donald Trump threatened additional levies on pharmaceutical imports and signalled forthcoming duties on semiconductors. Corporate earnings underscored the strain. Yum Brands, parent of KFC, fell 5.1% after missing second-quarter estimates and blaming higher trade duties for weaker consumer spending. Caterpillar said tariffs could shave as much as $1.5 billion from profit next year, even though its shares ended marginally higher. Marriott cut its full-year outlook, citing economic uncertainty, adding to investor caution late in the U.S. reporting season. The downbeat Wall Street session set a cautious tone in Asia, where the Nikkei 225 slipped 0.2% and South Korea’s Kospi lost 0.5%, although Australia’s ASX 200 edged up 0.4%. In India, the Reserve Bank left its benchmark rate unchanged at 5.5%, pausing its easing cycle as policymakers assessed the impact of escalating U.S. tariffs. European equity futures pointed to modest gains ahead of a busy day for regional earnings and further comments expected from the White House on trade.