03:48 PM EST, 02/03/2025 (MT Newswires) -- US benchmark equity indexes pared losses from earlier in the session ahead of Monday's close after President Donald Trump paused new tariffs on Mexico.

The Nasdaq Composite was down 0.9% at 19,449, while the S&P 500 fell 0.6% to 6,007.3. The Dow Jones Industrial Average dropped 0.1% to 44,495.3. Among sectors, technology saw the steepest decline, while consumer staples paced the gainers.

The Trump administration on Saturday announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. Trump said Monday that the US will pause the announced tariffs on Mexico for one month as the two sides engage in negotiations.

The US 10-year yield was down 2.8 basis points at 4.54%, while the two-year rate rose 2.1 basis points to 4.26%.

Palantir Technologies ( PLTR ) , NXP Semiconductors ( NXPI ) and Everest Group ( EG ) are among the companies scheduled to report results after the closing bell.

West Texas Intermediate crude oil rose 0.5% to $72.89 a barrel.