Highlights
Rising oil prices and a selloff in the AI momentum trade after its Monday rally undercut major stock indexes Tuesday. The broader market was better as market rates steadied following recent gains.
The Dow Jones industrial average eased 0.2 percent, the S&P 500 lost 0.7 percent, and the Nasdaq was off 1.3 percent. Bond yields retreated from multiyear highs while the dollar was nearly flat.
Chipmakers including Nvidia weakened to weigh on the averages. Big technology shares were mixed with Meta down. Among the decliners were machinery, airlines, industrial and precious metals, homebuilders, restaurant chains, and trucking. Best were energy, pharma, consumer staples, entertainment, and media.
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