NEW YORK — Wall Street stocks were mixed early Tuesday as markets took in stride President Donald Trump's latest tariff broadsides while weighing questions about lofty equity valuations.

 

Trump on Monday sent a slew of letters to Japan, South Korea and other trading partners, warning of steep tariffs from August 1 if they do not reach an accord with Washington.

 

But the US president also opened the door to further back and forth on the terms of a deal, telling reporters that the August 1 timeframe was "firm, but not 100-per cent firm."

 

The August 1 deadline is itself a prolongation from July 9, an earlier White House target date for the elevated tariffs to take effect.

 

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.2 per cent at 44,331.30.

 

The broad-based S&P 500 was unchanged at 6,231.13, while the tech-rich Nasdaq Composite Index added 0.2 per cent at 20,447.88.

 

The S&P 500 and Nasdaq fell from records Monday following Trump's tariff actions. Analysts have said the indices could be poised for a pullback given their gains in recent weeks.

 

Art Hogan from B. Riley Wealth Management said investor reaction Monday was "more mathematical than it was emotional," reflective of an environment that has adapted to Trump's fluid policy on trade.