The Dow closed 32.23 points higher, or 0.13%, to 24,101.55. The S&P 500 climbed 0.52% to 2,863.39. The Nasdaq Composite dipped 1.40% to 8,607.73. The Dow snapped a four-day winning streak as a decline in tech shares pressured the broader market, offsetting the enthusiasm about the prospects of reopening the economy. Meanwhile, sharp losses from some of the major tech stocks — including Facebook, Amazon, Apple, Alphabet and Netflix — dented market sentiment.

Treasury Secretary Steven Mnuchin said all loans of more than US$2 million in a government relief programme for small businesses will be audited to ensure they were justified after large public companies and big chains sparked outrage by taking funds.

Merck & Co said on Tuesday it expects the coronavirus pandemic to reduce 2020 sales by more than US$2 billion, and the US drugmaker lowered its profit forecast as a big drop in doctors' office visits during the outbreak will take a hefty toll, sending its shares down more than 3 per cent.

PepsiCo reported a rise in first-quarter revenue, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic. The company's net revenue rose 7.7 per cent to US$13.9 billion in the quarter ended March 21, helped by massive advertising campaigns during the Super Bowl.

Parkway Life Reit’s manager announced late on Tuesday that Palmary Inn Shin Kobe, one of its nursing home properties in Kobe City, Japan, has three confirmed cases of Covid-19. Two are staff of the operator, KK Asset, and the third, a resident of the property.

SPH Reit’s manager announced after trading hours on Tuesday that it has elected to receive the base fee component of the management fee for the period from Dec 1, 2019 to Feb 29, 2020 in the form of units in SPH Reit. A total of about 2.5 million units in SPH Reit were issued on Tuesday at the average price of S$1.0438 per unit for the purpose of payment of the base fee.

Starhill Global Reit’s revenue for the third quarter ended March 31 fell 8.9 per cent to S$46.7 million, while its net property income fell 11.1 per cent to S$35.2 million. The decrease in net property income was largely due to lower contributions from Starhill Gallery, in relation to its planned asset enhancement, rental assistance extended to eligible tenants in Singapore, Malaysia and China to cushion the impact of Covid-19 pandemic, as well as the depreciation of A$ against S$.

Prime US Reit on Tuesday announced that its first-quarter net property income stood at US$23.5 million, exceeding IPO projections by 6.7 per cent. Its gross revenue exceeded projections as well, by 4.1 per cent to hit US$35.1 million; its distributable income stood at US$17.6 million for the first quarter, exceeding the IPO projection by 12.9 per cent.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR