Indexes Plummet as Most Stocks Rise Amid Ongoing Tensions

The stock market indexes took a hit on Tuesday, but most individual stocks rose. The Dow Jones Industrial Average slipped by 0.08%, while the S&P 500 fell by 0.12% and the Nasdaq Composite dropped by 0.32%. Energy prices edged higher after Iran reaffirmed its position that the Strait of Hormuz would remain closed until certain conditions are met.

Oil prices climbed about 1.4% to around $83 per barrel, and the United States Oil Fund rose by 0.9%. However, two of the largest stocks, Alphabet and Amazon, fell by 2.2%, pulling down the indexes. Micron Technology's chief business officer said that memory shortages will extend beyond 2027.

The biggest contributor to the Dow's gain was Caterpillar, which rose by 1.4%. However, the Invesco S&P 500 Equal Weight ETF rose by 0.31%, while the cap-weighted Vanguard S&P 500 ETF fell by 0.12%.