S&P 500 Closes Lower as Oil Climbs, Private Credit Woes Mount

US stocks declined on Tuesday as the price of oil rose, with fighting between the US-Israel alliance and Iran raging unabated, even as President Donald Trump took an optimistic tone on the state of negotiations with Iran.

Alternative asset managers were also hit as Ares Management Corp. and Apollo Global Management Inc. became the latest firms to curb withdrawals from some funds, rekindling investor concerns about private credit.