New york: Major U.S. stock market indices closed lower on Tuesday as investors exercised caution, pressured by climbing crude oil prices and surging Treasury yields. The Dow Jones Industrial Average fell 328.09 points, or 0.63%, to finish at 52,093.11. The tech-heavy Nasdaq Composite dropped 204.84 points, or 0.78%, ending the session at 25,981.57. Meanwhile, the S and P 500 declined by 34.25 points, or 0.45%, to settle at 7,585.73.
According to Emirates News Agency, Wall Street's pullback was driven by escalating energy costs and an elevated bond market as market participants braced for the US Federal Reserve's policy meeting amid ongoing economic and inflationary pressures. The combination of these factors has led to increased investor wariness as they assess the potential impacts on the broader financial landscape.