Wall Street held relatively firm on Tuesday following President Donald Trump’s latest tariff escalation and after the Federal Reserve hinted interest rates may not change for a while. The S&P 500 was virtually unchanged and edged up by less than 0.

Wall Street held relatively firm after President Trump’s latest tariff escalation and after the Federal Reserve hinted interest rates may not change soon.

"If it escalates into bilateral tariffs, we estimate an 8% hit to EPS assuming unitary elasticity," Bank of America analysts said.