After jumping 288 points on Monday following news of a ceasefire in the U.S.-China trade war, the Dow Jones fell 799 points on Tuesday, according to CNN.
The Dow dropped 799 points, or 3.1%, on Tuesday. At one point, the index was down 818 points. The S&P 500 declined 3.2%, while the Nasdaq tumbled 3.8%.
Trade war fears returned as investors realized the standoff is not quite over: tariffs already implemented are still in place, and if negotiations do not bear fruit, new tariffs could go into effect as well.
"People are still very concerned about the trade war," said Dan Suzuki, portfolio strategist at Richard Bernstein Advisors. "Financial markets are increasingly showing signs of fear of a recession."
President Donald Trump did not help Wall Street's trade war worries on Tuesday. Trump said that he would "happily" sign a fair deal with China but also left open the possibility that the talks will fail.
"President Xi and I want this deal to happen, and it probably will," Trump tweeted. "But if not remember... I am a Tariff Man."