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U.S. equities pulled back on Tuesday, giving back some of the sharp gains seen in the previous session, as crude prices resumed their rally while the Iran war moved further into its fourth week.
The Dow Jones Industrials ditched some of Monday’s gains 186.04 points to 46,045.76.
The S&P 500 index slipped 28.77 points to 6,552.23
The NASDAQ dipped 185 points to 21,761.76.
The major averages all rose more than 1% on Monday after President Donald Trump said in a Truth Social post that the U.S. and Iran have held “very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.” Iranian state media reported that there were no direct talks between the two countries, however.
Prices for the 10-year Treasury sagged, raising yields to 4.39% from Monday’s 4.35%. Treasury prices and yields move in opposite directions.
Oil prices regained $3.36 to $91.49 U.S. a barrel.
Gold prices lost $167.20 to $4,407.80 U.S. an ounce.
