U.S. stock indexes are edging mostly lower following President Donald Trump’s latest updates to his tariffs, but Wall Street is hanging near its record amid speculation about whether the president may ultimately back down.

Most US and European share indices slid on Tuesday, as US inflation data indicated President Donald Trump's tariffs could be feeding into his country's economy.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.