US stock futures held steady after Google parent Alphabet reported strong earnings results, and Wall Street saw its third day of gains on renewed hope of trade deals.

The recent optimism on Wall Street dissipated as companies continued to reassess their financial outlooks due to uncertainty over President Donald Trump’s on-again-off-again tariff policies.

The S&P 500 plummeted 19% from its record high after President Trump announced the most severe tariffs the U.S. has seen in a century. In the short run, the 90-day pause on reciprocal tariffs makes for an uncertain business environment that will likely lead to more stock market volatility.