Tech Stocks and Oil Prices Drive Market Decline

The Dow Jones Industrial Average and S&P 500 fell for the second consecutive session on Tuesday, while the Nasdaq Composite Index also declined.

Among the biggest decliners were tech stocks such as Alphabet-A (GOOGL.US), Amazon (AMZN.US), Applovin (APP.US), SpaceX (SPCX.US), and Oracle (ORCL.US), which fell 3.8%, 2.1%, 6%, 3.9%, and 3.7% respectively.

Bank of America downgraded Applovin's rating to 'Neutral' from 'Buy' and reduced its price target, contributing to the decline in the stock's value.

The oil prices continued to rise as tensions between the US and Iran remained high, with Crude Oil Futures (SEP6) increasing by 1.3% to $83.45 a barrel on the New York Mercantile Exchange.