The Dow Jones Industrial Average closed marginally lower on Tuesday after the blue-chip index relinquished all its early gains in the sharpest daily reversal in nearly two years, according to FactSet.

In early trade, Dow industrials were up more than 1% and set an intraday all-time high above 26,000. But the rally petered out as investors weighed political developments against quarterly earnings reports and economic data — both presently underpinning Wall Street’s optimism.

What are the benchmarks doing?