Oil Price Surge Sends Stocks Lower Amid Inflation Concerns

Stocks closed lower across major indexes on Tuesday as oil prices continued to rise in response to another round of U.S. military strikes on Iran, fueling concerns about stubbornly high inflation.

The S&P 500 index fell by 0.7%, the Dow Jones Industrial Average dropped 0.8%, and the Nasdaq composite slid 1%. This marks the third day of losses for the major indexes.

A bond market sell-off intensified, putting additional pressure on stocks as investors worry about rising interest rates and their impact on inflation. The situation is seen as a challenge to economic growth.