Most US stock indexes declined during Tuesday trading, pressured by technology shares amid concerns over a potential breakdown in talks between the United States and Iran.

By 15:00 GMT, the Dow Jones Industrial Average had risen 221.79 points, or 0.41%, to 54,197.77.

In contrast, the SP 500 fell 2.27 points, or 0.03%, to 7,750.84, while the Nasdaq Composite dropped 92.18 points, or 0.35%, to 26,513.18.

Uncertainty over a potential agreement

Pakistan's Defense Minister Khawaja Asif told Bloomberg News that signals emerging over the past few days suggest a peace agreement is close.

The comments came shortly after Qatar's Foreign Ministry said talks between Iran and Oman over shipping traffic through the Strait of Hormuz had reached an advanced stage.

Economic data in focus

Markets are awaiting consumer and producer inflation data due over the next two days, which will be crucial in shaping investor expectations for the Federal Reserve's monetary-policy path, as the central bank remains focused on achieving its inflation target and Fed Chair Kevin Warsh moves away from guidance pointing toward interest-rate cuts.

Traders are almost evenly divided over whether the central bank will raise interest rates in September or leave them unchanged, according to the CME FedWatch Tool.

The SP 500 and Dow Jones remained close to the record highs reached last week, while the Nasdaq is still more than 2% below its all-time high. However, the tech-heavy index remains well above its July lows, when it had fallen around 10% from its peak.