The S&P 500 dipped 0.2%, a day after wild swings caused by extreme moves in the oil market.

If oil prices stay very high for very long, households’ budgets already stretched by high inflation could break under the pressure.

Stocks reversed course from their lows Monday and closed higher across the board after Trump gave signs that an end may be in sight for the U.S.-Iran war.

The S&P 500 dipped 0.2%, a day after wild swings caused by extreme moves in the oil market.

Since the start of the war, sharp moves for oil prices have cascaded through financial markets worldwide and caused big swings up and down.

Investors remained wary of the impact of the U.S.-Iran war on oil prices throughout the day.

With no resolution in sight, the war with Iran is sending shockwaves through global markets, dragging stocks lower worldwide.