Stocks Plunge Amid Crude Oil Price Surge

U.S. stocks took a hit on Tuesday as crude oil prices surged during the trading day. The lack of direction in early trading was followed by a decline in major averages, which added to losses from the previous session.

The Nasdaq Composite Index slid 159.91 points or 0.6 percent to finish at 26,445.45. The S&P 500 dropped 24.91 points or 0.3 percent to close at 7,728.20, while the Dow Jones Industrial Average declined 184.13 points or 0.3 percent to end at 53,791.85.

The markets were unable to recover from their lows for the session and remained in the red despite the modest losses. The declines come on the heels of a previous session's modest losses, which may indicate ongoing market volatility.