Major indexes slip as soaring oil nears $100 mark | Arkansas Democrat Gazette

U.S. stocks fell Tuesday as renewed fighting linked to the Iran war pushed oil higher, raising concerns about inflation and pressuring investors. The S&P 500 dropped 0.6%. The Dow Jones Industrial Average fell 628 points, or 1.2%, and the Nasdaq composite slid 0.3%. Brent crude briefly climbed to $99.46 per barrel before settling at $97.92, up 0.9%, after earlier tracking near about $72 in early July. Ahead of key data, traders are focused on wholesale and consumer inflation reports Thursday and Friday, with the Fed meeting next week. CME Group data pointed to nearly a 60% chance the Fed will raise the federal funds rate at its Sept. 16 meeting.