Commodities
US Stocks Tumble as Oil Prices Continue Wild Ride
US stocks declined slightly from their all-time highs on Tuesday, while oil prices continued to fluctuate due to uncertainty surrounding Iran's impact on global crude supply.
The S&P 500 fell 0.4% as it headed for its second modest drop since setting a record high on Friday, with the Dow Jones Industrial Average down 170 points or 0.3%, and the Nasdaq composite dropping 0.7%.
Brent crude prices briefly jumped above $90 in the morning before falling back below $87, eventually settling at $88.91, up 1.4% from Monday's close.
Higher oil prices have contributed to inflation concerns, with the average cost of regular gasoline rising to $4.01 per gallon according to AAA, a nearly 27% increase from last year's levels.