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Bond yields also climbed to multiyear highs Tuesday, adding pressure on stocks as investors weigh the odds of a Fed rate hike
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U.S. stocks fell Tuesday as American military strikes on Iranian targets sent oil prices higher and pushed global bond yields to multiyear highs. The Dow Jones Industrial Average dropped 412 points, or 0.8%; the S&P 500 declined 0.7% and the Nasdaq $NDAQ Composite slid 0.9%.
U.S. Central Command said American forces were attacking Islamic Revolutionary Guard Corps targets in Iran on Tuesday. U.S. crude surged past $89 per barrel and Brent futures topped $93, each up roughly 4%. The strikes came a day after a tanker in the Strait of Hormuz was struck by three unidentified projectiles, an incident that prompted President Donald Trump to vow retaliation for Iran's ongoing attacks on American military installations in the area.
