Both the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) closed lower on Tuesday as investors continued to monitor new developments from the U.S.-Iran war.
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News That Moved the Stock Market Today
- The U.S. and Iran could hold peace talks as soon as Thursday, according to Axios. Iran has yet to respond.
- The U.S. seeks an end to all Iranian uranium enrichment, the elimination of existing stockpiles, and a halt to ballistic missile development. Iran is “highly unlikely” to agree to these terms, three senior Israeli officials told Reuters.
- President Trump’s approval rating fell to a second-term low of 36%, according to a Reuters/Ipsos poll.
- The S&P Global Flash Composite Purchasing Managers’ Index (PMI) dropped to an 11-month low of 51.4 in March amid higher input and energy prices.
- Barclays raised its 2026 S&P 500 (SPX) price target to 7,650 from 7,400, but warned of a “bumpy” road driven by inflation and stagflation risks.
- U.S. lawmakers urged the Commerce Department to halt shipments of Nvidia (NVDA) H200 chips to China and Southeast Asian countries.
- FedEx (FDX) joined the same-day delivery race in collaboration with last-mile delivery software company OneRail.
- The New York Stock Exchange, owned by Intercontinental Exchange (ICE), partnered with Securitize to advance its tokenized securities platform.
Today’s Best-Performing Sector
Energy was the best-performing sector on Tuesday, driven by rising oil futures while the Strait of Hormuz remains at a near standstill. Investors are pricing in continued supply disruptions, which could keep oil prices elevated. Major energy producers led to the upside as geopolitical tensions persist in the Middle East.
Several stocks led the sector’s gains, including:
Today’s Worst-Performing Sector
Meanwhile, the communication services sector faced the largest drawdown amid broader risk-off sentiment. The Trade Desk (TTD) was hit particularly hard after Ad Age reported that Omnicom (OMC) launched an audit of the company’s fees. In addition, rising Treasury yields and renewed inflation concerns weighed on high-growth names, further pressuring the sector.
Notable stocks trading lower include: