S&P 500, Dow slip with investor focus on Middle East, but chipmakers climb

NEW YORK: The S&P 500 and Dow declined on Tuesday as investor uncertainty persisted amid the U.S.-Iran standoff, while energy shares fell as oil prices gave up recent gains.

Equity investors have been jittery since late last week, when a U.S. drone strike killed Iranian Major General Qassem Soleimani, taking major indexes off record highs. "The knee-jerk reaction is to have a little bit of volatility, a little of repricing some of the risks."The Dow Jones Industrial Average fell 76.09 points, or 0.27per cent, to 28,627.29, the S&P 500 lost 4.43 points, or 0.14per cent, to 3,241.85 and the Nasdaq Composite added 10.64 points, or 0.12per cent, to 9,082.11.

Apache Corp soared 25per cent after it made a major oil discovery, with France's Total SA , off the coast of Suriname.

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