01:21 PM EDT, 10/15/2024 (MT Newswires) -- US equity indexes retreated from record highs, with energy and technology leading the decliners after midday on Tuesday.

The Nasdaq Composite fell 0.8% to 18,349.7, with the S&P 500 down 0.4% to 5,835.2 and the Dow Jones Industrial Average 0.3% lower at 42,944.2. The S&P 500 and the Dow made fresh record highs on Monday. Energy and technology led the decliners intraday Tuesday, while real estate, financials, and utilities were among the top gainers.

West Texas Intermediate crude oil sank 4.5% to $70.53 a barrel, the lowest since early this month.

The Washington Post on Tuesday reported Israel's Prime Minister Benjamin Netanyahu told the Biden Administration Israel will concentrate on attacking Iranian military facilities when it responds to Iran's attack, easing concerns the strike could impact Iran's 1.7 million barrels per day of oil exports and likely draw Iran into a wider Middle Eastern war.

"The next moves will hinge on whether the market believes this new conciliatory political speak, and if it does and sees Israel behaving in accordance with it, this will not be the end of lower prices," PVM Oil Associates said in a note.

Meanwhile, the IEA again cut its estimate for 2024 demand growth in its October Oil Market Report, seeing demand at 862,000 barrels per day over 2023 levels, down from its 903,000 bpd September estimate. The agency slightly raised its 2025 demand growth estimate to one million bpd while warning that rising non-OPEC supply and weak Chinese demand will result in higher inventories next year.

"For now, supply keeps flowing, and in the absence of a major disruption, the market is faced with a sizeable surplus in the new year," the IEA report said.

US President Joe Biden's administration is in preliminary discussions to impose export caps on advanced artificial intelligence chips from Nvidia (NVDA) and other US companies to certain nations, Bloomberg reported. The PHLX Semiconductor Index (SOX) fell 4.6% intraday.

The CBOE Volatility Index, also known as the fear gauge for investors, rose 2.1% to 20.11.

In company news, ASML Holding ( ASML ) said in fiscal Q3 results that it expects 2025 net sales of 30 billion euros ($32.75 billion) to 35 billion euros. Analysts surveyed by Capital IQ are looking for 35.77 billion euros. Shares of the technology giant plunged 17%, the worst performer on the Nasdaq.

UnitedHealth Group ( UNH ) narrowed its full-year earnings outlook amid a higher-than-expected impact from business disruptions associated with a cybersecurity incident earlier in the year. Shares slumped 7% intraday, the steepest decliner on the Dow.

Walgreens Boots Alliance ( WBA ) shares surged nearly 12% intraday, leading the S&P 500, after the company's fiscal Q4 adjusted net earnings and sales topped the average analyst estimate compiled by Capital IQ. The pharmaceutical giant said it aims to close roughly 1,200 stores over the next three years, with about 500 during fiscal 2025.

US Treasury yields were mixed intraday, with the 10-year yield down 2.8 basis points to 4.04% and the two-year rate 1.7 basis points higher at 3.96%.

In US economic news, Redbook US same-store sales rose 5.6% from a year earlier in the week ended Oct. 12, faster than a 5.4% increase in the previous week.

Gold rose 0.4% to $2,676.70 an ounce, and silver jumped 1.2% to $31.71.