Update: Equities Dip, Oil Jumps as Middle East Tensions Escalate

04:27 PM EDT, 09/08/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) US stocks fell for a second consecutive session on Tuesday as heightened tensions in the Middle East drove oil prices higher. The Dow Jones Industrial Average closed 1.2% lower at 52,786.07, while the S&P 500 shed 0.6% to 7,673.52. The Nasdaq Composite dipped 0.3% to 26,421.41. US markets were closed Monday for the Labor Day holiday. Most sectors ended in the red, led by healthcare, while energy paced the gainers. West Texas Intermediate crude oil rose 2.4% to $93.71 a barrel in Tuesday late-afternoon trade, having hit a high of $94.73 earlier in the day. Brent crude climbed 1.9% to $98.79, after advancing earlier to reach an intraday peak of $99.46. Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg News reported, citing the group's military spokesperson. US Central Command said Saturday that its forces targeted three Iranian oil tankers on Saturday in response to Tehran firing ballistic missile at two American Navy warships. Treasury yields were higher, with the two-year rate up 1.7 basis points at 4.4% and the 10-year rate rising 0.8 basis point to 4.79%. US consumers had mixed views on the inflation trajectory in August, seeing prices hold steady in the short- and long-term but expecting a drop over the next three years, a survey by the Federal Reserve Bank of New York showed Tuesday. The August consumer and producer price data for August, due out later this week, could serve as crucial data points for the Federal Open Market Committee, which begins its two-day policy meeting Tuesday next week. Markets are pricing in a 59% probability that the FOMC will raise the benchmark lending rate by 25 basis points on Sept. 16, with the remaining odds pointing to another Fed pause, according to the CME FedWatch tool. In company news, Boston Scientific (BSX) shares fell 5.9% after the medical device maker said it may not be able to meet its own guidance, citing a "material impact" from a recent cybersecurity incident. ABM Industries (ABM) tightened its full-year earnings outlook as the facility services provider's bottom line for the fiscal third quarter topped market estimates. The company's shares jumped 7.6%. S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday. Cloud computing giant Oracle (ORCL) and photoshop maker Adobe (ADBE) are scheduled to report results later in the week. Spot gold dropped 1.1% to $4,357.46 per troy ounce, while silver edged down 0.4% to $66.50 per ounce.