Due to an increase in crude oil prices, the S&P 500 fell on Tuesday to start the first trading day of a week that has been truncated due to holidays.
The broad-based index fell by approximately 0.4%, while the Dow Jones Industrial Average dropped by about 0.5% or 160 points. The Nasdaq Composite remained close to its flat line.
Following the extension of Saudi Arabia’s voluntary production restrictions of one million barrels per day, oil prices increased. The price of West Texas Intermediate futures increased by more than 1% to trade close to $87 a barrel, hitting its highest level since November.
Source (CNBC)
