U.S. stocks slumped on Tuesday under the weight of another jump for the price of oil. It was a return to form for financial markets after Wall Street’s worries about Israel’s fighting with Iran had seemed to calm a bit on Monday.

The S&P 500 fell 0.8% following signals that the Israel-Iran conflict may be worsening and that one of the U.S. economy’s main engines is weakening. The swing sent Wall Street’s main measure of health nearly back to where it started the week.

The Dow Jones industrial average dropped 299 points, or 0.7%, and the Nasdaq composite fell 0.9%.

A barrel of benchmark U.S. crude jumped 4.3% to $74.84. Brent crude, the international standard, added 4.4% to $76.45 per barrel.

Solar stocks tumbled Tuesday because of the possibility that Congress may phase out tax credits for solar, wind and other energy sources that produce fewer emissions.

Enphase Energy dropped 24%, and First Solar fell 17.9%.

Treasury yields also fell in the bond market after a report said shoppers spent less last month at U.S. retailers than the month before and than economists expected.

On the winning side of Wall Street was artificial-intelligence technology company Jabil, which jumped 8.9% after reporting a stronger profit for the latest quarter than analysts expected.

Verve Therapeutics soared 81.5% after Eli Lilly said it would buy the company developing genetic medicines for cardiovascular disease in a $1 billion deal that could be worth up to $1.3 billion if certain conditions are met. Lilly’s stock fell 2%.

All told, the S&P 500 lost 50.39 points to 5,982.72. The Dow dropped 299.29 to 42,215.80, and the Nasdaq composite sank 180.12 to 19,521.09.

All the action took place as the Federal Reserve began a two-day meeting on interest rates. The nearly unanimous expectation among traders and economists is that the Fed will make no move.

In the bond market, the yield on the 10-year Treasury eased to 4.38% from 4.46% late Monday.

— Associated Press