The tech sector led the charge for the tech-heavy S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) on Tuesday, holding onto some gains after last week's sell-off. However, Big Bank stocks took a hit in the trading session after Federal Reserve Vice Chair for Supervision Michael Barr announced updated capital requirement regulations for banks.

Meanwhile, historical patterns are coming to fruition as third quarter earnings estimates are being cut and the election will likely create more market volatility (^VIX).

Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend to break down his key takeaways from the trading day.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Melanie Riehl