Commodities
US Stocks Slide Amid Geopolitical Tensions Ahead of Key Inflation Report
The US stock market closed lower on Tuesday, with the S&P 500 falling by 0.32% to 7,728 and the Dow Jones Industrial Average declining by 0.34% to 53,797.
The Russell 2000 index, however, bucked the trend and rose by 0.32% to 3,027.
The energy sector led gains among sectors, boosted by rising oil prices, but the gains were capped after reports emerged that Pakistan's Defence Minister suggested the US and Iran are close to reaching some form of agreement.
Treasury yields rose modestly on Tuesday despite a further rise in oil prices, with participants largely looking ahead to Wednesday's US CPI report, which will be key in shaping expectations for the September FOMC meeting.