The S&P 500 declined on Tuesday, falling 1% amid rising oil prices and a hotter than expected CPI report for April.
The Nasdaq Composite dropped 2%, while the Dow Jones Industrial Average eased 68 points, or 0.2%.
Oil prices surged, with West Texas Intermediate futures up 3% to over $101 per barrel, and Brent crude rising 3% above $107.
The gains followed comments from President Donald Trump, who criticized the U.S. Iran ceasefire as “unbelievably weak” and “on massive life support,” after Tehran’s rejection of an earlier counterproposal to end the conflict.
Source (CNBC)
