Fears over the future health of the economy continued to rattle markets around the world, as investors tried to puzzle through President Trump’s commitment to tariffs in spite of the potential fallout his policies could have for inflation, consumer spending and overall growth.

After the S&P 500 suffered its worst day of the year on Monday, U.S. markets were steadier on Tuesday. European markets were mixed and an initial sell-off in Asia moderated. Futures for U.S. markets were flat before official trading started in New York.

Indexes in Europe were down slightly, aside from a rise in Germany, and the euro jumped against the dollar. Investors have been buoyed by signs that European governments are poised to significantly increase spending on defense, as Mr. Trump has signaled waning U.S. support for security in Europe.

Earlier, Asia markets fell sharply before recovering some losses later in the day. Indexes in Japan, South Korea and Taiwan finished more than 1 percent lower, weighed down by declines in technology stocks. Equity markets in China edged higher.

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Charts on the floor of the New York Stock Exchange on Monday. Current economic data has stayed robust, but surveys of consumers, business leaders and economists are growing pessimistic.Credit…Charly Triballeau/Agence France-Presse — Getty Images

The big technology companies that dragged down U.S. indexes on Monday were mixed in premarket trading.

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