U.S. stocks fell Tuesday after the three-day weekend.

The S&P 500 sank 0.6%.

The Dow Jones Industrial Average dropped 628 points, or 1.2%.

The Nasdaq composite dipped 0.3%.

Rising oil prices caused the losses.

Brent crude briefly hit $99.46 a barrel.

It then settled at $97.92, up 0.9%.

Prices have climbed from about $72 in early July.

Middle East fighting is disrupting supply.

More expensive oil raises worries about high inflation.

Two inflation reports arrive this week.

Thursday’s wholesale report is expected to show a rise to 5.4%.

That is up from 4.7% in July.

Friday’s consumer report is expected to ease to 3.3%.

That is down from July’s 3.4%.

Both remain above the Federal Reserve’s 2% target.

These are the last reports before the Fed meets next week on interest rates.

President Donald Trump has pushed for lower rates.

Fed Chairman Kevin Warsh wants to give markets fewer clues about short-term plans.

Traders see nearly a 60% chance the Fed will raise rates on Sept. 16.

The 10-year Treasury yield rose to 4.79%.

That is near its highest since autumn 2023.

Boston Scientific fell 5.9% after a cybersecurity outage hurt its sales outlook.

Novartis shares tumbled 13.9% after a discouraging therapy study update.

Qualcomm rose 3.2% after announcing an AI data center deal with Amazon.

Japan’s Nikkei 225 sank 1.7% as the yen strengthened.

Chinese indexes were mixed after exports jumped 25% in August.