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Stocks closed lower Tuesday, with the S&P 500 posting its third-straight losing session, as a jump in bond yields threatened the bull market.
The Dow Jones Industrials jettisoned 321.81 points, to conclude Tuesday at 49,364.31.
The S&P 500 lost 49.30 points to 7,353.73.
The NASDAQ sank 220.02 points to 25,870.71.
Crude prices were down slightly on Tuesday after President Donald Trump announced late Monday that he was calling off a plan to attack Iran after the heads of three regional powers in the Middle East asked him to “hold off.”
U.S. West Texas Intermediate futures shed 0.82% to settle at $107.77 per barrel. Meanwhile, Brent crude futures, which serve as an international benchmark, were last trading 0.65% lower at $111.37 per barrel.
Later in the day, the U.S. reportedly seized overnight an oil tanker linked to the Islamic Republic in the Indian Ocean, according to three U.S. officials who spoke with The Wall Street Journal.
Prices for the 10-year Treasury eked upward, lowering yields to 4.67% from Monday’s 4.69%. Treasury prices and yields move in opposite directions.
Oil prices slid seven cents to $108.59 U.S. a barrel.
Gold prices slid $68.00 to $4,5110.30 U.S. an ounce.
