Stocks Plunge Amid Oil Price Surge and Middle East Unrest

Oil prices rose significantly on Tuesday as violence flared in the Middle East, causing stock markets to waver. The S&P 500 index fell by 0.7%, while the Dow Jones Industrial Average dropped by 0.8%. The Nasdaq composite slid 1% in value. This marks the third consecutive day of losses for these major indexes.

The increase in oil prices was partly attributed to US military strikes on Iran, which raised concerns about stubbornly high inflation. A bond market sell-off added to the pressure on stocks. The situation remains uncertain as investors await further developments in the region.