U.S. stocks closed lower Tuesday after the three-day weekend. The biggest concern market participants held, both domestic and global, as they entered trading Tuesday was the potentially deadly virus outbreak that has infected China ahead of the nation's Lunar New Year and how it would affect global markets. Market attention was also given to the World Economic Forum in Davos, Switzerland and the beginning of President Donald Trump's impeachment trial.

Here's how the stock market closed at the beginning of the week:

S&P 500 Index (SPY  ): -0.27% ot -8.83 points to 3,320.79

Dow Jones Industrial Average (DIA  ): -0.52% or -152.06 points to 29,196.04

Nasdaq Composite Index (QQQ  ): -0.19% or -18.14 points to 9,370.81

In Major Stock News, Beyond Meat (BYND  ) stock jumped more than 18.4% after Starbucks announced that the fast-food company will add more plant-based items to its menu. Uber (UBER  ) shares also climbed Tuesday after the ride-hailing company announces that it had sold its Eats business in India to competitor Zomato, giving Uber a 9.99% stake in the business. Shares of Wynn Resorts (WYNN  ) and Las Vega Sands (LVS  ) fell Tuesday due to investor fears around the coronavirus outbreak weakening international travel.

In U.S. Economic News, Credit Suisse analyst Jonathan Golub raised his 2020 price target for the S&P to 3,600 from 3,425. Golub's main factors behind the revised price target were the that he predicts the U.S. domestic economy will firm further in the first half of the year, energy and tech stocks will improve amid a better economic climate, and there being room for expansion for multiples.

In U.S. Sector News, sector performance showed mixed results as the market entered into the shortened week. The few sectors that saw share growth include Real Estate +1.07%, Utilities +0.84%, Consumer Staples +0.34% and Health Care +0.04%. The rest that did not perform positively Tuesday include Energy -1.88%, Industrials -1.09%, Materials -1.07%, Financials -0.86%, Consumer Discretionary -0.17%, Information Technology -0.08% and Communication Services -0.05%.

Lastly, in Commodity and Currency News, crude oil prices fell Tuesday, with West Texas Intermediate (USO  ) dropping almost -1% and Brent Crude (BNO  ) plunging over -1%. The price of Gold (GLD  ) also took a dive on Tuesday, with the metal's price dropping -0.16%. Finally, the U.S. Dollar lost some value in the current global economic climate, with the DXY Index falling slightly at -0.01%.