Markets Drop Ahead of CPI Inflation Report as mid U.S.-Iran Stalemate Continues

Stocks looked set to fall on Tuesday as the stand-off between the U.S. and Iran dragged on, putting the market on edge ahead of an inflation reading that will make clear just how much the war in the Middle East is impacting the economy. S&P 500 futures declined 0.4% and contracts tied to the tech-heavy Nasdaq 100 dropped 0.6%. The S&P and Nasdaq both eked out record highs on Monday as the rally in chip stocks rolled on.