Stocks were mixed on Tuesday as investors weighed renewed tensions between the United States and China with House Speaker Nancy Pelosi visiting Taiwan. The tech-heavy Nasdaq traded on each side of the flatline to ultimately trade lower at closing, while the Dow Jones Industrial Average fell over 400 points and the S&P 500 slipped 0.6% lower.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.66% or -27.28 points to 4,091.35

Dow Jones Industrial Average (DIA  ): -1.22% or -401.64 points to 32,396.76

Nasdaq Composite Index (QQQ  ): -0.16% or -20.22 points to 12,348.76

For economic news, the labor market showed more signs of slowing on Tuesday, with the latest Job Openings and Labor Turnover Survey posting 10.7 million job openings in June--much lower than analyst expectations for a 11.14 million print. This marked the fewest number of job openings since September 2021.

Crude oil futures edged higher on Tuesday ahead of an OPEC+ meeting this week than may tighten supply amid concerns of a looming global recession that could limit energy demand. West Texas Intermediate (USO  ) rose 0.6% to settle at $94.42 per barrel, while Brent Crude (BNO  ) futures rose 0.5% to settle at $100.54 each.

On the earnings front, Dow component Caterpillar (CAT  ) slipped nearly 6% on Tuesday after the industrial giant posted mixed quarterly results. The company noted that its sales were negatively impacted by its exit from Russia, ongoing supply chain issues, and elevated costs during the quarter.

Meanwhile, Uber Technologies (UBER  ) shares rose nearly 19% on Tuesday after the company reported better-than-expected quarterly earnings. The ride-hailing company posted $8.1 billion in revenue in the second quarter, topping the $7.4 billion expected. Uber's adjusted EBITDA also beat estimates, totaling $364 million, above expectations for $266 million.

"Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter," CEO Dara Khosrowshahi said in a statement. "Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber."

Elsewhere, Pinterest (PINS  ) shares were boosted on Tuesday after investor Elliott Management announced it had taken a stake in the image sharing company to become its largest shareholder. The investor also backed Pinterest's CEO Bill Ready, saying Ready is "the right leader to oversee Pinterest's next phase of growth."

The news overshadowed Pinterest's disappointing earnings report posted after market close on Monday that missed on both earnings and revenue.

Looking ahead, market participants are watching for earnings from companies such as Starbucks (SBUX  ), Advanced Micro Devices (AMD  ), and PayPal (PYPL  ) after the bell on Tuesday. Wall Street is also anxiously anticipating the July jobs report schedule for release on Friday, which will offer more clues into the health of the U.S. economy.