Bonds & Stocks
Stocks joined bonds lower as oil prices rallied, fueling concerns about inflationary pressures that could make the Federal Reserve raise interest rates. The S&P 500 fell 0.3%. The yield on 10-year Treasuries advanced one basis point to 4.80%.
Economy
Brent oil topped $100 a barrel for the first time since July, as fresh tensions between the US and Iran heightened concerns about energy flows through the Strait of Hormuz.
World
US forces destroyed five Iranian tankers carrying crude oil on Tuesday in response to two attempts to hit a US Navy warship with ballistic missiles in as many days, Central Command said.