Stocks drifted lower on Wall Street as long-term Treasury yields ticked higher, pressuring the market.
The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average slipped 0.3%, and the Nasdaq composite fell 0.1%.
Stocks have been under pressure as oil prices have swung sharply amid the U.S. war with Iran, helping to push Treasury yields higher. The yield on the 10-year Treasury rose to 5.25% and touched its highest level in 24 years.
The price of Brent crude oil fell 1.7% to $96.16 a barrel, but remains far above where it was this summer.
On Tuesday:
The S&P 500 fell 12.85 points, or 0.2%, to 7,670.84.
The Dow Jones Industrial Average fell 131.59 points, or 0.3%, to 51,349.92.
The Nasdaq composite fell 22.84 points, or 0.1%, to 26,797.54.
The Russell 2000 index of smaller companies fell 9.99 points, or 0.4%, to 2,807.92.
For the week:
The S&P 500 is down 72.57 points, or 0.9%.
The Dow is down 478.70 points, or 0.9%.
The Nasdaq is down 271.18 points, or 1%.
The Russell 2000 is down 29.63 points, or 1%.
For the year:
The S&P 500 is up 825.34 points, or 12.1%.
The Dow is up 3,286.63 points, or 6.8%.
The Nasdaq is up 3,555.55 points, or 15.3%.
The Russell 2000 is up 326.02 points, or 13.1%.
