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International Monetary Fund
Stocks close lower after 2-day run; oil price jumps
Stocks close lower after 2-day run; oil price jumps

A combination of concerns knocked the U.S. stock market lower Tuesday, snapping a two-day run. Crude oil climbed above $60 a barrel for the first time this year, raising expectations for rising inflation and interest rates. Greece's government remained in a standoff with its European creditors as a debt payment looms next week. “There are some jitters,” said Bill Stone, chief investment officer at PNC Asset Management Group. “Greece is definitely part of it. The other part is oil prices going up. That implies more inflation.” Major indexes wavered at the outset of trading, drifted lower throughout the morning, then spent the afternoon slowly ceding ground....

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