U.S. stocks slumped under the weight of a jump for the price of oil. The S&P 500 fell 0.8% Tuesday following signals that Israel’s conflict with Iran may be worsening and that one of the U.S. economy’s main engines is weakening.

Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.

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Stock futures were higher on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices rallied after Israel attacked key areas of Iran’s energy infrastructure over the weekend,

By Wayne Cole SYDNEY (Reuters) -Asian markets kept their nerve on Monday and oil prices climbed anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings.

US stocks closed higher as Iran aims to deescalate the clash with Israel. Oil prices eased. Fed meets on rates this week. No one expects a rate cut.