Oil prices rose on Tuesday and stocks fell ahead of President Trump's 8 p.m. EST deadline for Iran to reopen the Strait of Hormuz to avoid sweeping airstrikes on infrastructure targets, including power plants and bridges.

The S&P 500 index fell 46 points, or 0.7%, to 6,566 in early trading, while the Dow Jones Industrial Average tumbled 324 points, or 0.7%, to 46,346. The tech-heavy Nasdaq dropped 1.1%.

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Oil prices rose on Tuesday and stocks fell ahead of President Trump's 8 p.m. EST deadline for Iran to reopen the Strait of Hormuz to avoid sweeping airstrikes on infrastructure targets, including power plants and bridges.

The S&P 500 index fell 46 points, or 0.7%, to 6,566 in early trading, while the Dow Jones Industrial Average tumbled 324 points, or 0.7%, to 46,346. The tech-heavy Nasdaq dropped 1.1%.