US stocks closed lower on Tuesday as markets assessed energy prices and the prospects of a Federal Reserve rate hike this year. The S&P 500 lost 0.3%, the Nasdaq fell 0.3%, and the Dow shed 184 points. Crude oil prices were volatile amid conflicting signals over developments in the Middle East, paring earlier losses after Iran reiterated that it would keep the Strait of Hormuz closed until its demands are met. Treasury yields eased, but credit-sensitive hyperscalers declined, with Alphabet down 3.8%, Oracle losing 3.7%, Amazon shedding 2.1%, and SpaceX falling 3.9%. Intel (+0.2%) rose its planned stock offering by $5 billion to $20 billion. Nvidia (-0%) reportedly secured $500 billion in private financing from banks for AI infrastructure, increasing leverage across the sector. Investors now await Wednesday's CPI report after several FOMC members signaled a possible rate hike next month. SMCI (+0.4%) and CoreWeave (+2.4%) are scheduled to report after the bell.