It was one of those days where the sell button got more action than the buy button. U.S. markets traded lower Tuesday afternoon, with the Dow Jones sliding more than 400 points as investors pulled back across multiple sectors.

The Dow dropped 0.91% to 46,164.40, while the Nasdaq fell harder, declining 1.01% to 22,479.09. The S&P 500 landed somewhere in between, losing 0.62% to settle at 6,630.25.

Sector Moves: Healthcare Holds Up While Consumers Pull Back

Not all sectors felt the pain equally. Healthcare stocks actually managed to climb 0.5% on Tuesday, providing one of the few bright spots in an otherwise gloomy session.

Consumer discretionary stocks, on the other hand, took the biggest hit, falling 1.8% as investors seemed less enthusiastic about companies dependent on consumer spending.

Medtronic Delivers the Goods

Medtronic Plc (MDT) offered some good news Tuesday, reporting solid second-quarter fiscal 2026 results that topped analyst expectations.

The medical device company posted sales of $8.96 billion, beating the consensus estimate of $8.87 billion. That represents a 6.6% increase year-over-year, with organic growth coming in at 5.5%. Adjusted earnings hit $1.36 per share, also surpassing expectations of $1.31.

Winners and Losers

Olema Pharmaceuticals, Inc. (OLMA) jumped 13% to $15.26 after announcing a strategic alliance with EVIDENT Group to integrate its data capabilities within EVIDENT's platform.

Can-Fite BioPharma Ltd. (CANF) surged 18% to $0.4263 following news that a patient treated with Namodenoson has achieved an overall survival of 9 years to date with complete response to treatment.

James Hardie Industries plc (JHX) climbed 7% to $17.90 after delivering better-than-expected second-quarter results. The company also announced Ryan Lada as its new CFO.

On the downside, Energizer Holdings, Inc. (ENR) crashed 24% to $18.20 after reporting mixed fourth-quarter results and issuing first-quarter EPS guidance below analyst estimates. The company's full-year fiscal 2026 EPS guidance also came in light.

Invivyd, Inc. (IVVD) declined 13% to $2.4750 after announcing the pricing of its $125 million underwritten public offering.

LifeMD, Inc. (LFMD) tumbled 23% to $3.6311 after missing third-quarter expectations and issuing weak fourth-quarter sales guidance. The company also cut its fiscal 2025 sales outlook below estimates.

Commodities Slip Lower

The commodity complex didn't fare much better. Oil traded down 0.7% to $59.48 per barrel, while gold dipped 0.3% to $4,062.50.

Silver fell 0.9% to $50.255, and copper declined 0.7% to $4.9770.

Global Markets Follow Suit

European markets closed firmly in the red. The eurozone's STOXX 600 fell 1.77%, while Spain's IBEX 35 Index dropped 2.32%. London's FTSE 100 declined 1.42%, Germany's DAX 40 slipped 1.78%, and France's CAC 40 fell 1.97%.

Asian markets had already set a negative tone earlier in the session. Japan's Nikkei 225 fell 3.22%, Hong Kong's Hang Seng declined 1.72%, China's Shanghai Composite dropped 0.81%, and India's BSE Sensex lost 0.33%.

Economic Data Snapshot

On the economic front, U.S. initial jobless claims registered 232,000 for the week ending October 18.

U.S. private employers announced an average of 2,500 job cuts per week in the four weeks ending November 1, compared to an 11,250 decline in the previous period.

The Federal Reserve Bank of New York's general business activity index improved to -21.7 in November from -23.6 the previous month, though it remained firmly in negative territory.