Dow rises as oil falls, tech stocks drag on broader market

US stocks closed lower on Tuesday as selling pressure returned to the technology sector, although the Dow Jones Industrial Average ended higher, supported by lower oil prices and hopes for an end to the war in the Middle East.

Dow rose 0.17%, or 86 points, to 50,872, recovering losses from the previous session. Meanwhile, the broader S&P 500 fell 0.26%, or 19 points, to 7,386, while the Nasdaq Composite declined 0.97%, or 250 points, to 25,678.

In Europe, the STOXX Europe 600 index dropped 0.50% to 618 points amid mixed performance across major sectors.

The UK's FTSE 100 fell 1.41% to 10,227 points, while Germany's DAX declined 0.74% to 24,433 points. France's CAC 40 was little changed at 8,203 points.

In Japan, the Nikkei 225 rose 2.15% to 65,416 points, while the broader TOPIX gained 1.15% to 3,896 points.

In commodities, Brent crude futures for August delivery fell 2.97%, or $2.80, to settle at $91.45 per barrel.

WTI crude futures for July delivery declined 3.40%, or $3.10, to $88.20 per barrel.

Meanwhile, gold futures for August delivery fell 1.76%, or $77, to $4,286.40 per ounce.

Market drivers

Lower oil prices supported some economically sensitive sectors, but renewed selling pressure in technology stocks weighed on Wall Street as investors awaited producer price inflation data and the anticipated SpaceX IPO later this week.