U.S. stocks slumped under the weight of a jump for the price of oil. The S&P 500 fell 0.8% Tuesday following signals that Israel’s conflict with Iran may be worsening and that one of the U.S. economy’s main engines is weakening.

Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.

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U.S. stock indexes rose on Monday as oil prices fell after the Israel-Iran attacks left crude production and exports unaffected, allaying investor concerns ahead of a central bank policy meeting. Crude prices retreated more than 3% on reports that Iran is seeking an end to hostilities with Israel,

Stock futures were higher on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices rallied after Israel attacked key areas of Iran’s energy infrastructure over the weekend,