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The dockworkers strike began at midnight, leading to shutdowns of U.S. East Coast and Gulf ports.

Stocks felt pressure as Iran launched a missile attack on Israel, but geopolitical worries weren’t the only thing rattling Wall Street on Tuesday.

The materials sector was outperforming the broader S&P 500 on Tuesday, as slumping tech stocks dragged down the U.S. equities benchmark.

Iran’s attack on Israel is “justification for concern” in the oil markets, but some analysts aren’t convinced that the move will lead to any significant, long-lasting disruptions to global crude supplies.

“While there’s no guarantee it will happen, any company split would acknowledge that CVS can’t be the integrated healthcare powerhouse it once thought,” one analyst said.

The stock hit a low of $1.37 earlier in the session, matching its record closing low that was set in October 2023.

The various stock indexing and weighting schemes will shine at different times, but some approaches are designed to be immune from market cycles.

IGM Biosciences Inc.’s stock tumbled 14% Tuesday, as analysts weighed in with dismay on the company’s pivot away from oncology to a focus on autoimmune diseases, with at least two opting to lower their ratings.

PepsiCo’s stock rose Tuesday, bucking the selloff in the broader stock market, after the beverage and snacks giant announced an agreement to buy Mexican-American foods maker Siete Foods for $1.2 billion a week before earnings are released.

Crypto bulls have expected the potential approval of options on bitcoin ETFs to allow institutional investors to execute more strategies, including some that may lead to bitcoin’s price much higher.

Company sales rise 10%, beating analyst estimates

A Barclays analyst says the December quarter “looks to be increasingly at risk” as iPhone demand could disappoint.