U.S. markets ended lower on Tuesday amid rising crude oil prices, uncertainty over a potential U.S.-Iran deal, and the reopening of the Strait of Hormuz. Investors remained cautious ahead of a key inflation reading that could influence the Federal Reserve’s next policy decision. The Consumer Price Index (CPI) report is due to be released on Wednesday, followed by producer inflation data on Thursday. Sentiments remained downbeat as the National Association of Realtors (NAR) released a report showing that existing home sales saw further downside in the month of July after reporting a notable pullback in existing home sales in the U.S, in the previous month. NAR said existing home sales tumbled by 1.7 percent to an annual rate of 4.06 million in July.
Nasdaq decreased 159.91 points or 0.6 percent to 26,445.44, Dow Jones Industrial Average down 184.13 points or 0.34 percent to 53,791.85 and S&P 500 declined 24.91 points or 0.32 percent to 7,728.2.
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