U.S. stocks slumped under the weight of a jump for the price of oil.
The S&P 500 fell 0.8 percent 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 percent, and the Nasdaq composite sank 0.9 percent.
Treasury yields also fell following a weaker-than-expected report on sales at U.S. retailers. Crude oil prices rose more than 4 percent 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 percent, to 5,982.72.
The Dow Jones Industrial Average fell 299.29 points, or 0.7 percent, to 42,215.80.
The Nasdaq composite fell 180.12 points, or 0.9 percent, to 19,521.09.
The Russell 2000 index of smaller companies fell 22.17 points, or 1 percent, to 2,101.96.
For the week:
The S&P 500 is up 5.75 points, or 0.1 percent.
The Dow is up 18.01 points, or less than 0.1 percent.
The Nasdaq is up 114.27 points, or 0.6 percent.
The Russell 2000 is up 1.46 points, or 0.1 percent.
For the year:
The S&P 500 is up 101.09 points, or 1.7 percent.
The Dow is down 328.42 points, or 0.8 percent.
The Nasdaq is up 210.30 points, or 1.1 percent.
The Russell 2000 is down 128.20 points, or 5.7 percent.
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