The Dow Jones Industrial Average decreased 84.96 points, or 0.26 percent, to 32,160.74. The S&P 500 rose 9.81 points, or 0.25 percent, to 4,001.05. The Nasdaq Composite Index increased 114.42 points, or 0.98 percent, to 11,737.67.
Seven of the 11 primary S&P 500 sectors ended in red, with real estate and utilities down 2.29 percent and 1.24 percent, respectively, leading the laggards. Technology climbed 1.58 percent, the best-performing group.
The above market reactions followed a three-day losing streak for U.S. equities, which saw the S&P 500 drop on Monday below the 4,000 threshold for the first time in more than one year, amid mounting concerns over the economic outlook.
"Despite our expectation of falling inflation and sustained growth, we believe investors should brace for further equity volatility amid significant moves in key economic variables and bond markets," Mark Haefele, chief investment officer at UBS Global Wealth Management, said Tuesday in a note.
Investors are awaiting the April U.S. consumer price index, a key measure of inflation, which is slated to be released on Wednesday.
Last week, the U.S. Federal Reserve announced a half-point increase in its benchmark rate, the sharpest rate hike since 2000, as part of its effort to fight inflation.
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