The S&P's worst performers were oil field services business Halliburton and exploration companies Occidental Petroleum and Diamondback Energy, all driven lower by a pullback in oil prices.
Although most signs are strong for the US economic rebound, the recent chaos in the oil market — and a surge to above $70 a barrel — could hurt consumer spending. Oil prices soared early Tuesday after the Organization of Petroleum Exporting Countries and its allies, including Russia and Mexico, called off a meeting to discuss production curbs as demand for oil recovers following the pandemic. US oil prices hit $76.98 a barrel, the highest level since November 2014, before retreating. Crude finished the day at $73.37 a barrel, down 2.4% from Friday.
Back in the stock market, tech stocks were the bright spot. Amazon was the best performer in the S&P and the tech-heavy Nasdaq Composite ended the day in the green.