Stocks fell on Wall Street as another round of U.S. military strikes on Iran sent oil prices higher, stoking worries about stubbornly high inflation.
Bond yields moved higher, putting even more pressure on stocks. The S&P 500 fell 0.7% Tuesday. The Dow Jones Industrial Average dropped 419 points, or 0.8%. The Nasdaq composite fell 1%.
Big Tech stocks like Nvidia and Amazon were the heaviest weights dragging the market lower. Brent crude rose 4.6% and U.S. oil closed above $90 for the first time in more than a month. The yield on the 10-year Treasury rose to 4.79%.
On Tuesday:
The S&P 500 fell 54.67 points, or 0.7%, to 7,631.47.
The Dow Jones Industrial Average fell 419.02 points, or 0.8%, to 52,766.88.
The Nasdaq composite fell 271.11 points, or 1%, to 26,099.77.
The Russell 2000 index of smaller companies fell 36.32 points, or 1.2%, to 2,920.13.
For the week:
The S&P 500 is down 80.29 points, or 1%.
The Dow is down 793.11 points, or 1.5%.
The Nasdaq is down 302.65 points, or 1.1%.
The Russell 2000 is down 52.24 points, or 1.8%.
For the year:
The S&P 500 is up 785.97 points, or 11.5%.
The Dow is up 4,703.59 points, or 9.8%.
The Nasdaq is up 2,857.78 points, or 12.3%.
The Russell 2000 is up 438.23 points, or 17.7%.
