Stock market today: Live updates

S&P 500 futures fell Tuesday, pressured by a rise in Treasury yields amid concerns of persistent inflation and elevated oil prices. A pullback in semiconductor stocks also weighed on the broader market.

Contracts tied to the broad market index fell 0.5%, while Nasdaq-100 futures were down 1.2%. Western Digital fell more than 6% to lead Nasdaq futures lower. Sandisk also dropped around 6%. Marvell and Seagate were both down by more than 5%.

Dow Jones Industrial Average futures traded 7 points higher, thanks in part to a 1% advance in Home Depot shares after the home improvement giant posted a second-quarter earnings beat.

The 30-year Treasury bond yield climbed nearly 2 basis points to 5.329%, trading around levels not seen in nearly two decades. The yield on Monday hit its highest level since June 2007.

Yields have been rising of late as investors worry that oil prices could stay elevated, with negotiations between Iran and the U.S. stalling. President Donald Trump said Monday he would attack Oman “if it gets in the way.”

U.S. crude rose on Monday and climbed another 0.5% on Tuesday to trade at $84.88.

Sonali Basak, chief investment strategist at iCapital, still thinks there’s fuel left in the stock market, however, especially as the rally broadens beyond Big Tech.

“You look around and there’s still more room to run,” Basak told CNBC’s “Closing Bell” in an interview. “Even in the last month, the S&P Equal Weight still did not outperform the Nasdaq or the SOXX — which tells me it’s still been relatively left behind, even in recent days.”

Across the Atlantic, European markets slipped into the red in morning trade. The pan-European Stoxx 600 fell 0.51%. The French CAC 40 lost 0.55%, and Italy’s FTSE MIB was 0.59% lower, while Germany’s DAX shed 0.38%. In London, the FTSE 100 was down less than 0.1%.

Asia-Pacific markets ended in the red. South Korea’s Kospi fell 1.55%. Japan’s Nikkei 225 dropped 2.54%. Australia’s benchmark S&P/ASX 200 closed flat. Mainland China’s CSI 300 declined 0.32%, while Hong Kong’s Hang Seng Index was little changed.