Stocks were pressured on Tuesday as market participants weighed the first major batch of corporate earnings against dimming coronavirus treatment hopes and updated stimulus proposals. The Dow snapped its four day winning streak as Apple (APPL  ) shares gave back recent gains following the company's major iPhone launch event.

The major market benchmarks met their lows on Tuesday following the announcement the U.S. regulators had paused Eli Lilly's (LLY  ) last-stage coronavirus antibody treatment clinical trial due to safety concerns. The news followed Johnson & Johnson's (JNJ  ) announcement that their late-stage clinical trial for its potential coronavirus vaccine has been paused due to an "adverse event" taking place. The dual announcements dimmed sentiment towards a near-term coronavirus treatment, making investors turn towards stimulus news for more direction towards economic recovery.

On the stimulus front, House Speaker Nancy Pelosi wrote to fellow Congressmen in a letter on Tuesday that the White House's $1.8 trillion aid proposal did not offer enough relief for the health-care sector. Meanwhile, Senate Majority Leader Mitch McConnell announced that the Senate will vote next week on a smaller stimulus package.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.63% or -22.29 points to 3,511.93

Dow Jones Industrial Average (DIA  ): -0.55% or -157.71 points to 28,679.81

Nasdaq Composite Index (QQQ  ): -0.10% or -12.36 points to 11,863.90

For Major Stock News, Disney (DIS  ) shares gained following the company's announcement that the entertainment company will reorganize to make streaming its "primary focus." Amazon (AMZN  ) shares advanced further as the e-commerce giant launched its Prime Day 2020 event. Royal Caribbean (RCL  ) shared dropped alongside other cruise line stocks as the company begun a public offering for $500 million worth of common stock.

For Sector Performance, most industries declined on Tuesday with the broader market, with only Communication Services +0.34% and Consumer Discretionary +0.03% gaining. The negative performance losses were as follows: Financials -1.86%, Real Estate -1.70%, Energy -1.56%, Industrials -1.06%, Materials -0.94%, Health Care -0.72%, Utilities -0.71%, Information Technology -0.63% and Consumer Staples -0.01%.

For Commodity and Currency, the U.S. Dollar (UUP  ) strengthened on Tuesday as investors became more cautious towards a pontential coronavirus vaccine and sentiment towards new fiscal stimulus before the U.S. presidential election dimmed. The dollar index rose 0.528% against other global currencies. Gold (GLD  ) price conversely fell below the key $1,900 level on Tuesday as the dollar gained. Spot gold dropped 1.7% to $1,890.01 per ounce, while gold futures settled 1.8% lower to $1,893.70 per ounce. Crude oil futures rebounded from Monday's lows as fresh data on China's economic recovery offset supply concerns. International benchmark Brent Crude (BNO  ) climbed 1.7% to $42.44 per barrel, while West Texas Intermediate (USO  ) gained 1.95% to $40.20 per barrel.

For the mid-week, market participants will turn their attention to a fresh batch of earnings from big banks like Bank of America (BAC  ), Goldman Sachs (GS  ) and Wells Fargo (WFC  ), as well as other names like UnitedHealth Group (UNH  ) and United Airlines (UAL  ).