Wall Street Begins September in Red as War Fears and Rate Hikes Loom

Stocks stumbled into September on Tuesday as investors digested a perfect storm of Middle East escalation, surging oil prices, and a Federal Reserve that suddenly looks ready to hike rates. The S&P 500 finished near 53,300, down roughly 0.5%, after briefly flirting with correction territory earlier in the session as traders tried to price in the implications of renewed U.S. military action in the Strait of Hormuz.

Assets (What's Gaining Value)

• **Energy Sector...