Dow Falls as Big-Cap Tech Stocks Decline Amid Rising Oil Prices

The Dow Jones Industrial Average and S&P 500 fell for a second straight session on Tuesday, along with the Nasdaq Composite. The decline was largely driven by big-cap tech stocks such as Alphabet, Apple, Amazon, and SpaceX, which gave up some of their recent gains.

Applovin led the way lower, falling 6% after Bank of America cut its rating to 'Neutral' from 'Buy'. Other notable decliners included Oracle and NVIDIA. However, some tech stocks bucked the trend, including NEBIUS, which rose 5% ahead of quarterly earnings.

Oil prices continued to rise, with crude oil futures up 1.3% at $83.45 a barrel, as the United States and Iran seemed far from reaching a deal to reopen the Strait of Hormuz.