Professional companies directed a slide in shares on Wall Street Tuesday, ending the benchmark S&P 500’s eight-day winning series.

The sell-off came as investors weighed growing trade tensions between the U.S. and also the European Union, and a report forecasting dimmer global economic growth this season.

Tech companies and banks lost ground. Just utilities and communications service suppliers, a broad group that includes entertainment, telecommunications and online businesses, notched advantages.

Smaller company stocks dropped more than the rest of the marketplace. Bond prices rose as money moved into holdings. The price of gold climbed.

Tuesday’s wave of selling marks a change for the current marketplace, that continues to be moving upward in recent weeks. The sector is primed for more market-moving news since the latest round of corporate earnings reports kicks off on Wednesday with all Delta Air Lines. Officials expect earnings for the S&P 500 to decline for the first time in almost three decades.

“We’re at the subsequent stages of the economic cycle, so earnings are undoubtedly needed to keep the momentum moving,” said Jennifer Green, global investment specialist at J.P. Morgan Private Bank. “We’ve seen a very wonderful run, so far exceeds, therefore the next stage is listening to how the earnings come from and the prognosis and the guidance that these companies give us.”

The S&P 500 index dropped 17.57 points, or 0.6 percent, to 2,878.20. The Nasdaq composite slid 44.61 points, or 0.6 percent, to 7,909.28. The Russell 2000 index of small-cap stocks gave up 19.32 points, or 1.2%, or 1,559.68.

European indicators also finished widely lower, giving up early gains, following the U.S. threatened to impose $11.2 billion in tariffs on European products, including wine, cheese and helicopters.

The danger from President Donald Trump can make investors even more worried about trade disputes hurting an already slowing worldwide economy in a time when the U.S. is trying to solve a trade battle with China.

That spat has made a list of goods more costly for customers and also is currently weighing on a slowing market. Negotiators met again last week and the two sides have said they’re currently making progress.

Dealers were disappointed to realize this season that the International Monetary Fund reduced its forecast for global growth. The IMF currently jobs 3.3% worldwide increase in 2019, matching the weakest year as 2009. The U.S. fared especially poorly in the report, together with growth now expected at 2.3 percent, down from 2.9% in 2018.

Even against the backdrop of slowing global economic development and a global trade war, U.S. stocks are off to some blockbuster beginning this season. The S&P 500 currently sits only 1.8percent away from its latest record high, which has been established in September. The index has been tacking on more gains since shutting out its best quarter in nearly a decade, having a 13.1% increase in the first three months of the year.

By stating it may not increase interest rates anxieties eased about a recession.

Investors will probably get more clues about the Fed’s goals when the central bank releases moments out of its policy meeting. The European Central Bank will meet Wednesday.

Pentair directed the sell-off in industrial stocks after the maker of other and swimming aquatic goods slashed its earnings forecast for the year. Moist weather and cold narrowed sales from the quarter for the company’s pool gear, including pumps and filters. It also sells equipment used for wells and water treatment centers. The stock dropped 13.5%.

American Airlines Group fell 1.7% after the airline cut key earnings measure because of grounded flights following Boeing’s 737 Max problems. Regulators grounded Boeing’s 737 Max jets after two crashes that were international. The airline also cited the effect from a government shutdown for its revenue estimate.

Wynn Resorts dropped 3.9% after the casino operator pulled from a possible buyout of Australia’s Crown Resorts. The company cited the”premature disclosure of preliminary talks” as the reason. The movement would have given a international reach to Wynn.

The return on the standard 10-year Treasury dropped to 2.50percent from 2.52% Monday.

Energy futures ended mostly lower. Benchmark U.S. primitive dropped 0.7% to settle at $63.98 a cone. Brent crude also fell 0.7% to close at $70.61 per barrel.

Wholesale gasoline rose 0.6% to $2 a gallon, heating oil gave up 0.6percent to $2.04 a gallon and natural gas dropped 0.3% to $2.70 per 1,000 cubic feet.

The dollar fell to 111.11 yen out of 111.53 yen on Monday. The euro strengthened to $1.1267 from $1.1261.

Gold rose 0.5percent to $1,308.30 an ounce, silver was little changed at $15.21 an ounce and aluminum gained 0.1% to $2.93 a pound.

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