Wall Street falls across the board as US-Iran fighting resumes, bond selloff deepens

All three major New York stock indexes fell Tuesday (local time) after renewed US-Iran fighting sent international oil prices surging about 4%.

The Dow Jones Industrial Average closed down 419.02 points, or 0.79%, at 52,766.88. The S&P 500 finished 54.67 points, or 0.71%, lower at 7,631.47. The technology-heavy Nasdaq Composite fell 271.12 points, or 1.03%, to close at 26,099.77.

Analysts attributed the broad decline to inflation fears stoked by the oil price surge following the resumption of US-Iran hostilities. A widening selloff in global bond markets, which drove government bond yields sharply higher, also weighed on equities.