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Update: Equities Fall Intraday as Traders Track Middle East Developments

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Update: Equities Fall Intraday as Traders Track Middle East Developments

(Updates with latest market prices and developments.)

US benchmark equity indexes were lower intraday, while oil prices were volatile amid intensifying tensions in the Middle East.

The Dow Jones Industrial Average was down 1% at 52,875.1 after midday Tuesday, while the S&P 500 fell 0.3% to 7,692.4. The Nasdaq Composite edged down 0.1% to 26,484.7. The indexes finished Friday's trading session in the red.

US markets were closed Monday for the Labor Day holiday.

Among sectors, healthcare led the laggards intraday Tuesday, while utilities paced the gainers.

West Texas Intermediate crude oil rose 0.7% to $92.09 a barrel, having hit a high of $94.73 earlier in the day. Brent crude edged down 0.1% to $96.90, after advancing earlier to reach an intraday peak of $99.46.

Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg News reported, citing the group's military spokesperson.

The attacks were in retaliation to Saudi strikes in northwestern Yemen, BBC reported, citing the Houthis.

The US Treasury Department said Tuesday it "sanctioned 36 targets for supporting Iran's aviation sector, which the regime uses to move weapons, personnel, and illicit cargo."

Treasury yields were little changed intraday, with the two-year rate at 4.38% and the 10-year rate at 4.79%.

In company news, Boston Scientific (BSX) shares fell 4.7% after the medical device maker flagged its inability to meet its third-quarter and full-year financial outlooks, citing a "material impact" from a recent cybersecurity incident.

ABM Industries (ABM) tightened its full-year earnings outlook as the facility services provider's bottom line for the fiscal third quarter topped market estimates. The company's shares were up 7.8%.

S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday.

Cloud computing giant Oracle (ORCL) and Photoshop maker Adobe (ADBE) are scheduled to report results later in the week.

Spot gold ticked down 0.2% to $4,393.97 per troy ounce, while silver rose 0.5% to $67.06.

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