In defeasible reasoning, initially drawn conclusions can be withdrawn in light of new information. In this paper, we examine how the conclusions drawn from conditionals describing positive or negative situations can be defeated by subsequent negative or positive information, respectively. Participants were confronted with conditionals of the form “If [situation], then I am happy/sad” which were either followed by no additional information or by additional information describing situations of the same or the opposite valence. The participant's task was to decide (...) on a question asking for a possible conclusion (“Am I happy?” vs. “Am I sad?”). We found a negativity bias in defeasible reasoning: negative information defeated positively charged conclusions more strongly than positive information defeated negatively charged conclusions. We discuss our results in relation to the new psychology of reasoning. (shrink)