Wall Street’s major indices opened lower on Tuesday amid renewed fears over a potential US-China trade conflict . The market also digested earnings from major US banks, which marked the start of the third-quarter reporting season.

In the early hours of trading, the Dow Jones Industrial Average dropped 477.11 points, or 1.03%, to 45,581.46. The S&P 500 fell 82.08 points, or 1.25%, to 6,571.53, while the Nasdaq Composite sank 409.57 points, or 1.81%, to 22,280.67.

BlackRock reported record assets under management at $13.46 trillion, and JPMorgan Chase raised its full-year net interest income outlook after surpassing Q3 profit expectations. However, BlackRock shares slipped 0.7% in premarket trading, while JPMorgan dipped 1.1% in premarket session.

JPMorgan Chase reported a 12% rise

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