China announced a wide range of measures on Tuesday targeting U.S. businesses including Google , farm equipment makers and the owner of fashion brand Calvin Klein, minutes after new U.S. tariffs on Chinese goods took effect.

Beijing responded to Trump’s tariffs on Chinese exports with tariffs of its own on multiple U.S. imports as well as an antitrust investigation into Google.

Authorities also announced a Google inquiry and put the biotech firm Illumina and Calvin Klein's parent, PVH, on China's "unreliable entities list."

Alphabet reports fourth-quarter earnings after Tuesday's closing bell. Investors will be focused on cloud momentum and AI traction, with shares of the Google and YouTube parent company holding fast near the record levels achieved last week.

Google parent Alphabet Inc. posted fourth-quarter revenue that missed analysts’ expectations as growth in its cloud business slowed. The shares fell more than 8%.