The S&P 500 fell on Thursday, weighed by higher oil prices, as traders followed the latest developments out of the Middle East.

The broad market index declined 1.74% to end at 6,477.16, while the Nasdaq Composite shed 2.38% and closed at 21,408.08. The tech-heavy index closed in correction territory, down more than 10% from its high. The Dow Jones Industrial Average dipped 469.38 points, or 1.01%, and settled at 45,960.11.

Crude prices rose on Thursday, putting pressure on equities. Brent futures jumped 5.66% to settle at $108.01 per barrel. West Texas Intermediate futures climbed 4.61% to end at $94.48.

As stocks took a leg lower and oil prices received a boost Thursday, the yields on the 10-year Treasury and 2-year Treasury both spiked.

SPI down 91 - Gold slips - Trump extends deadline on energy attacks.

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