NEW YORK: The S&P 500 and Nasdaq indices fell on Tuesday as a rebound in technology shares faded and as President Donald Trump said the US must react to Iran's shooting down of a US helicopter.
Trump wrote in a social media post that Iran had shot down the US Apache helicopter that was patrolling the Strait of Hormuz overnight, and vowed to respond, which added to doubts about prospects for a truce in the Middle East war.
The Cboe Volatility Index hit its highest level since April 7 during the session as stocks sold off.
Technology stocks resumed Friday's selloff following a bounce on Monday. The S&P 500 tech index fell more than 4% before paring losses. The Philadelphia SE Semiconductor Index dropped as much as 8.6% after rising 3% in early trading. The tech index ended down 1.8% and the semiconductor index was 1.9% lower on the day.
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