U.S. stocks declined and oil prices jumped, as concerns about rising energy prices, supply shortages and inflation rattled investors once again.
The S&P 500 ticked down 1.23%, or 55.37 points, to close at 4456.24, while the Dow Jones Industrial Average fell 1.29%, or 448.96 points, to 34358.50. The blue-chip index is 6.6% off the record close it hit on Jan. 4 and down 5.4% for the year. The tech-focused Nasdaq Composite Index slid 1.3%, or 186.21 points, to 13922.60.