02:35 PM EDT, 06/17/2025 (MT Newswires) -- US benchmark equity indexes fell intraday, while oil prices jumped as Wall Street monitored the ongoing military conflict between Israel and Iran.

The Nasdaq Composite was down 1% at 19,513.3 after midday Tuesday, while the S&P 500 fell 0.9% to 5,982.9. The Dow Jones Industrial Average lost 0.7% to 42,213.5. Barring energy, all sectors were lower, led by consumer discretionary and health care.

Israel and Iran traded strikes for a fifth day, according to media reports. Israel launched airstrikes across Iran late last week, targeting its military infrastructure and nuclear facilities, with Tehran firing missiles at Tel Aviv in response.

On Tuesday, US President Donald Trump addressed Iran's Supreme Leader Ayatollah Ali Khamenei in social media posts.

"We know exactly where the so-called 'Supreme Leader' is hiding. He is an easy target, but is safe there ... at least not for now," Trump wrote. "Our patience is wearing thin."

In a follow-up post, Trump demanded "unconditional surrender."

In a previous post, Trump said Iran "should have" signed a deal he told the country to sign. "Everyone should immediately evacuate Tehran," Trump wrote in the same post.

West Texas Intermediate crude oil was up 3.5% at $74.26 a barrel intraday.

The International Energy Agency reduced its projections for global oil demand growth for 2025 and 2026. "While the market looks comfortably supplied now, the recent events sharply highlight the significant geopolitical risks to oil supply security," the agency said.

On Monday, the Organization of the Petroleum Exporting Countries trimmed its global oil demand projections for this year.

US Treasury yields were lower intraday Tuesday, with the 10-year rate falling 6.1 basis points to 4.39% and the two-year rate decreasing 2.1 basis points to 3.95%.

In economic news, US retail sales fell more than market expectations in May amid declines in purchases of motor vehicles and building materials, government data showed.

"A flurry of activity in anticipation of tariffs boosted consumer spending earlier this year, but that momentum is now looking to have run its course, with retail sales declining in both April and May," TD Economics said.

US homebuilder confidence in June reached its lowest level since December 2022 amid affordability headwinds and macro uncertainty, according to data released by the National Association of Home Builders and Wells Fargo.

"Given current market conditions, NAHB is forecasting a decline in single-family starts for 2025," Chief Economist Robert Dietz said.

The Federal Reserve's two-day monetary policy meeting got underway. Markets widely expect the Federal Open Market Committee to again hold interest rates steady Wednesday, according to the CME FedWatch tool. The committee is also scheduled to release its latest Summary of Economic Projections Wednesday.

"The FOMC will likely be more dovish than the market expects and stick to its forecast of two rate cuts this year," Nomura said in a Tuesday note.

In company news, Jabil ( JBL ) raised its full-year outlook as the manufacturing solutions provider reported better-than-expected fiscal third-quarter results and announced a $500 million investment plan to expand its footprint in the US. The company's shares were up nearly 11%, the top gainer on the S&P 500.

Enphase Energy ( ENPH ) shares sank 23%, the worst performer on the S&P 500, after a US Senate committee proposed phasing out renewable energy credits and KeyBanc downgraded the stock. First Solar ( FSLR ) followed Enphase on the S&P 500, down 17%.

Gold was down 0.3% at $3,408.3 per troy ounce, while silver rose 1.9% to $37.14 per ounce.