US Stocks Tumble for Second Day as US-Iran Talks Stall

US stocks plunged on Tuesday as Vice President JD Vance called off a trip to Pakistan, putting negotiations with Iran on hold, even as President Donald Trump extended a ceasefire that was set to expire on Wednesday.

The S&P 500 Index closed 0.6% lower in New York, extending declines for a second-straight session. The Nasdaq 100 Index was down 0.4% and the Cboe Volatility Index hovered near 20. The Philadelphia Stock Exchange Semiconductor Index rose 0.5%, tying its longest streak of gains on record.