US equities were mixed on Tuesday, with major indices failing to build on the prior session’s rebound as renewed inflation concerns and ongoing geopolitical tensions kept investors inclined toward cash. The three main equity benchmarks traded near the flatline for most of the session.
Crude oil prices declined for the first time this month after President Trump suggested that the war in Iran may be nearing its end. However, Iranian officials signaled a willingness to continue the conflict following attacks on tankers near the Persian Gulf, while US and Israeli strikes were reportedly intensified.
Credit-sensitive sectors came under pressure as yields inched higher. Major private credit firms extended their recent declines amid worries over the quality of their loan books, and asset managers were also hit hard by volatility in energy markets.
In corporate news, Amazon edged higher after launching the sale of its $37 billion bond offering. Semiconductor names Nvidia and AMD were little changed after TSMC reported a 30% increase in sales over the first two months of the year.
