Stock futures slipped Tuesday, as investors awaited the start of the Federal Reserve’s first policy meeting since President Donald Trump announced “reciprocal” tariffs in early April. S&P 500 futures fell 0.7%. Futures tied to the Dow Jones Industrial Average were down 235 points, or 0.6%. Nasdaq-100 futures declined 0.9%. During Monday’s session, the S&P 500 fell 0.6% to snap its nine-day rally — its longest winning streak since 2004. The tech-heavy Nasdaq Composite dropped 0.7%, while the Dow slipped 0.2%. Tariff uncertainty continues to weigh on the markets. Trump is scheduled for meetings with Canadian Prime Minister Mark Carney on Tuesday, marking the start of negotiations between the two leaders since since Carney assumed office earlier this year. Treasury Secretary Scott Bessent told CNBC on Monday that “we’re very close to some deals,” echoing comments from Trump on Sunday that agreements could come as early as this week. A Bloomberg report citing people familiar said that India has proposed zero tariffs on certain goods. Nonetheless, no official trade deals between the U.S. and its trading partners have yet been announced. While data issued on Monday from the Institute for Supply Management showed stronger-than-anticipated service sector activity in April, concerns around tariffs lingered. Investors are now keeping a close eye on the Fed’s two-day policy meeting set to kick off on Tuesday, followed by an announcement on rates Wednesday afternoon. Although fed funds futures trading suggests just a 2.7% chance of the central bank cutting rates, traders will be listening for Fed Chair Jerome Powell’s comments on his economic outlook. “We could see temporary disruptions from a supply-chain perspective and a slowdown in growth if not a short and shallow recession. It may also temporarily impact inflation and keep the Federal Reserve in a difficult position on flexibility with interest rates,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. “However… we do not see this as a long-drawn-out disruption,” she added. “Countries around the world are too intertwined and dependent upon each other to not see some agreements made sooner than later.” U.S. Treasury yields were little changed on Tuesday as investors keenly awaited the Federal Reserve’s first interest rate policy meeting since President Donald Trump’s “reciprocal” tariffs went into effect in April. The 10-year Treasury yield rose 1 basis point to 4.353%. The 2-year Treasury yield was down about 2 basis points at 3.822%. Asia-Pacific markets traded mixed as investors assessed trade developments between the U.S. and countries in the region, with focus also on Asian currencies that reversed course to weaken Tuesday as the dollar appreciated. China stocks resumed trading after the Labor Day holidays amid signs of Washington and Beijing taking a more conciliatory approach to resolving trade disputes after resorting to tit-for-tat tariffs. Mainland China’s CSI 300 index climbed 1.01% to end the day at 3,808.54, its highest level since April 3. Meanwhile, Hong Kong’s Hang Seng Index added 0.7% to close at 22,662.71. China’s Caixin services purchasing managers’ index came in at a seven-month low of 50.7 in April, compared to 51.9 in the previous month. Over in India, the benchmark Nifty 50 fell 0.29% while the BSE Sensex moved down 0.22% in choppy trade as at 1.42 p.m. Indian Standard Time. Australia’s S&P/ASX 200 benchmark ended the day flat at 8,151.40. Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down the previous session, although concerns about a market surplus persisted. Brent crude futures rose $1.67, or 2.8%, to $61.90 a barrel, the first gain after six consecutive declines, while U.S. West Texas Intermediate crude added $1.61, or 2.8%, to $58.74 a barrel. Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve’s policy decision this week was also in focus. Spot gold rose 1.2% to $3,372.01 an ounce, as of 0810 GMT, after hitting its highest since April 22 earlier in the session. U.S. gold futures gained 1.7% to $3,379.10. “The structural factors that supported gold in recent weeks are all still around – trade tensions are not fixed, concern about the dollar as a reserve currency,” said UBS analyst Giovanni Staunovo. “We are still looking for gold to retest the $3,500 mark this year.”