The S&P 500 and Nasdaq ticked lower on Tuesday as President Donald Trump’s moves to force China-owned TikTok into a sale of its U.S. operations drew a sharp rebuke from Beijing, ratcheting up tensions as the world slides into a pandemic-fuelled recession.

The S&P 500 .SPX opened lower by 4.69 points, or 0.14%, at 3,289.92. The Nasdaq Composite .IXIC dropped 4.91 points, or 0.04%, to 10,897.89 at the opening bell.

The Dow Jones Industrial Average .DJI rose 0.21 points at the open to 26,664.61.