The Dow Jones Industrial Average closed down 472 points on Tuesday, while the S&P 500 fell 1.6% and the Nasdaq dropped 1.9%. The tech and industrial sectors saw the biggest losses.

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Source: Factset.

The big picture: The drop comes two days after President Trump threatened to escalate the trade war and one day after the administration confirmed higher tariffs on Chinese imports would take effect later this week. The S&P 500 is 2% below the all-time closing high seen last week. It's 1.8% higher than where it was when the trade war began in early 2018.

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Ina Fried, author of Login
29 mins ago - Technology

Lego, Sesame Workshop back early-learning startup

Photo by Noam Galai/Getty Images

A number of leading children's brands, including Lego and Sesame Workshop, are among the investors pouring $50 million into BEGiN, the New York startup behind the early-learning program HOMER.

Why it matters: Thus far, HOMER has focused on reading apps, but with the new funding and partnerships, the company says it will expand to a full early-learning program combining digital, physical and in-person experiences, tapping some of its investors for both content and distribution.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Climate's surprise appearance in the debate

Illustration: Annelise Capossela/Axios

The debate was a mess as moderator Chris Wallace struggled with President Trump's interruptions. But let's analyze the climate parts anyway without normalizing the whole thing.

Why it matters: The contest provided a collision over the topic between Trump and Joe Biden, and underscored the two candidates' immense differences.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 33,700,008 — Total deaths: 1,008,874 — Total recoveries: 23,426,047Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 7,191,406 — Total deaths: 206,005 — Total recoveries: 2,813,305 — Total tests: 103,155,189Map.
  3. Health: The coronavirus' alarming impact on the body.
  4. Business: Shell plans up to 9,000 job cuts by 2022.
  5. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility.
  6. Work: United States of burnout — Asian American unemployment spikes amid pandemic