NEW YORK, New York - With President Donald Trump unable to bring to a close the war in Iran, and with negotiations stalled, investors and traders on Wall Street kept buying at bay on Tuesday. With oil prices 40 percent above pre-war levels, the impact on the global economy is heightening by the day. Adding to the world's worries with oil, the UAE announced Tuesday it would withdraw from OPEC next month, and will set its production targets in line with its own interests. The move is likely to loosen production, putting further pressure on prices.

All the major indices closed lower on Tuesday, weighed down by a sharp decline in technology shares, though the Dow Jones Industrial Average managed to end the session with only a marginal loss.

The Standard and Poor's 500 fell 35.13 points, or 0.49 percent, to close at 7,138.78. The broad-market index traded within a range of 7,115.17 to 7,152.52 on the day, with volume reaching 2.958 billion shares.

The Dow Jones Industrial Average showed relative resilience, slipping just 31.64 points ( 0.06 percent ) to finish at 49,136.15. The blue-chip index moved between a low of 49,077.75 and a high of 49,381.33 during Tuesday's session. For context, the Dow has traded as low as 39,745.63 and as high as 50,512.79 over a longer timeframe.

The tech-heavy NASDAQ Composite underperformed the other major indexes, dropping 223.30 points ( 0.90 percent ) to end the day at 24,663.80. Trading volume on the Nasdaq reached 5.73 billion shares.

U.S. Dollar Strengthens Against Majors, Worst Hit: Swiss Franc, Canadian Dollar, Euro, British Pound

The U.S. dollar posted a strong performance in global foreign exchange trading on Tuesday, gaining ground against the Swiss franc and the Canadian dollar while the euro and British pound edged lower against the greenback.

The euro weakened against the dollar, with the EUR/USD pair trading at 1.1707, a decline of 0.001265 or 0.11 percent. The pair moved within a daily range of 1.1677 to 1.1727.

Similarly, the British pound lost value against the U.S. currency. GBP/USD was last quoted at 1.3513, down 0.002095 ( 0.15 percent ) for the session. Sterling traded between a low of 1.3463 and a high of 1.3541.

The U.S. dollar advanced against the Japanese yen. USD/JPY climbed to 159.67, a gain of 0.2555 or 0.16 percent. The pair saw a trading range of 158.96 to 159.79.

The greenback posted more substantial gains against the Swiss franc and the Canadian dollar. USD/CHF rose sharply to 0.7897, adding 0.004165 ( 0.53 percent ), with an intraday peak of 0.7911 and a low of 0.7848. Meanwhile, USD/CAD increased to 1.36835 up 0.005620 ( 0.41 percent ), after touching a high of 1.3691 and a low of 1.3612.

In the antipodean currencies, both the Australian and New Zealand dollars also fell against their U.S. counterpart. The AUD/USD pair traded at 0.7179, a loss of 0.000690 ( 0.1 percent ), moving between 0.7151 and 0.7194. The NZD/USD pair saw a sharper decline, dropping to 0.5882, down 0.002700 ( 0.46 percent ), with a session range of 0.5865 to 0.5919.

Global Stock Markets Divided on Tuesday as FTSE Edges Up While DAX and CAC Slide

World stock markets presented a divided picture at the closing bell on Tuesday, with London's FTSE 100 managing a slight gain while most major European and Asian indices ended the day in negative territory.

In London the FTSE 100 bucked the broader trend, closing at 10,332.79, an increase of 11.70 points, or 0.11 percent.

However, selling pressure was evident across the Channel. Germany's DAX P finished at 24,018.26, losing 65.27 points ( 0.27 percent ), while in France the CAC 40 closed at 8,104.09, down 37.83 points ( 0.46 percent ).

The pan-European EURO STOXX 50 I fell 24.22 points to end the session at 5,836.10, a decline of 0.41 percent, and the Euronext 100 Index dropped 8.04 points ( 0.45 percent ) to 1,786.05. Belgium's BEL 20 also retreated, closing at 5,334.76 after a loss of 20.73 points ( 0.39 percent ).

Canadian stocks also finished in the red. The S&P/TSX Composite index declined 233.85 points ( 0.69 percent ) to close at 33,584.34, with 299.258 million shares changing hands.

Asian markets largely mirrored the European weakness. Hong Kong's HANG SENG INDEX fell sharply, shedding 245.87 points to close at 25,679.78, a decline of 0.95 percent.

In Singapore, the STI Index closed at 4,887.69, down 5.04 points ( 0.10 percent ). Elsewhere, Japan's Nikkei 225 tumbled 619.90 points ( 1.02 percent ) to finish at 59,917.46. 

Mainland Chinese markets also finished in the red, with the SSE Composite Index edging down 7.71 points ( 0.19 percent ) to close at 4,078.64. Taiwan's TWSE Capitalization Weighted Stock Index rounded out the session at 39,521.73, a loss of 94.90 points ( 0.24 percent ).

In Australia, the S&P/ASX 200 lost 55.70 points ( 0.64 percent ) to finish at 8,710.70, while the broader ALL ORDINARIES fell 55.80 points ( 0.62 percent ) to 8,935.00.

New Zealand's S&P/NZX 50 INDEX GROSS declined 110.54 points ( 0.86 percent ) to 12,764.40, 

In India, the S&P BSE SENSEX ended at 76,886.91, a drop of 416.73 points ( 0.54 percent ), while in Indonesia the IDX COMPOSITE closed at 7,072.39, down 34.13 points ( 0.48 percent ).

There were a few bright spots in Asia.  Malaysia's FTSE Bursa Malaysia KLCI advanced 12.33 points ( 0.72 percent ) to close at 1,729.60, while South Korea's KOSPI Composite Index gained 25.99 points ( 0.39 percent ) to finish at 6,641.02.

In the Middle East, Israel's TA-125 closed at 4,257.82, down 13.30 points ( 0.31 percent ), while in Egypt, the EGX 30 Price Return Index also saw significant losses, dropping 488.50 points ( 0.93 percent ) to 52,230.60.

In Africa, South Africa's Top 40 USD Net TRI Index posted the largest percentage drop of the day, plunging 152.44 points ( 2.16 percent ) to 6,907.97

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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