The S&P 500 fell slightly on Tuesday in choppy trading as oil prices pulled back and traders kept an eye on the Iran war.

The broad market index dropped 0.21% to end at 6,781.48. The Dow Jones Industrial Average dipped 34.29 points, or 0.07%, and closed at 47,706.51. The Nasdaq Composite inched up 0.01% to settle at 22,697.10. The Dow had lost as much as 296.57 points earlier in the day. The S&P 500 and Nasdaq were down 0.5% and 0.4%, respectively, at their lows.

Oil prices, which spiked to nearly $120 a barrel Monday at height of fear around the Iran conflict, dropped as traders believed a group of countries would tap emergency crude reserves to mitigate disruption caused by the conflict.

SPI up 24points - Commodities slightly firmer. No corporate or economic data due - US CPI tonight.

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