U.S. stocks slumped under the weight of a jump for the price of oil.
The S&P 500 fell 0.8% Tuesday following signals that Israel’s conflict with Iran may be worsening and that one of the U.S. economy’s main engines is weakening. That nearly erased the S&P 500’s gain for the week. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite sank 0.9%.
Treasury yields also fell following a weaker-than-expected report on sales at U.S. retailers. Crude oil prices rose more than 4% on worries about damage to the flow of oil because of fighting between Israel and Iran.
On Tuesday:
The S&P 500 fell 50.39 points, or 0.8%, to 5,982.72.
The Dow Jones Industrial Average fell 299.29 points, or 0.7%, to 42,215.80.
The Nasdaq composite fell 180.12 points, or 0.9%, to 19,521.09.
The Russell 2000 index of smaller companies fell 22.17 points, or 1%, to 2,101.96.
For the week:
The S&P 500 is up 5.75 points, or 0.1%.
The Dow is up 18.01 points, or less than 0.1%.
The Nasdaq is up 114.27 points, or 0.6%.
The Russell 2000 is up 1.46 points, or 0.1%.
For the year:
The S&P 500 is up 101.09 points, or 1.7%.
The Dow is down 328.42 points, or 0.8%.
The Nasdaq is up 210.30 points, or 1.1%.
The Russell 2000 is down 128.20 points, or 5.7%.
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