Wall Street moderated as investors remained cautious ahead of upcoming tariffs set to take effect on Liberation Day. Concerns over slowing manufacturing activity added to broader growth fears, while falling interest rates signaled expectations of three rate cuts in the US this year. In corporate news, Tesla shares rebounded ahead of its quarterly sales report, while Johnson & Johnson declined after a judge's ruling. Moderna continued its slump, weighed down by FDA-related developments. Meanwhile, commodities softened, pressured by growth concerns and Aussie shares are expected to consolidate on Wednesday following yesterday’s strong gains.

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