The market is continuing to pull back from its extended rally, as all three major indexes turned in their third-straight daily losses on the heels of Federal Reserve Chairman Jerome Powell's hawkish commentary. The testimony sent Treasury yields higher, while the Dow and Nasdaq finished the day with triple-digit drops, and the S&P 500 moved modestly lower.
OIL RISES ON U.S. MONETARY POLICY FEARS
Crude futures moved higher Tuesday amid monetary policy tightening fears. July-dated crude lost $1.34, or 1.9%, to close at $72.53 per barrel on the day.
August-dated gold lost $2.80, or 0.1%, to close at $1,944.90 an ounce, after the central bank's latest commentary weighed on bullion's appeal.
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