Commodities
Stock Market Plunges as Oil Prices Soar Amid Ongoing Tensions with Iran
The US stock market saw significant losses on Tuesday as oil prices surged following another round of US military strikes against Iran. The Dow Jones Industrial Average plummeted 419 points, or 0.8%, to settle at $52,766.88.
The S&P 500 fell 54.67 points, or 0.7%, to 7,631.47, while the Nasdaq composite dropped 271.11 points, or 1%, to 26,099.77.
The rising oil prices are putting pressure on inflation and bond yields, with the yield on the 10-year Treasury rising to 4.79% from 4.75% late Monday.