U.S. stocks fell sharply Tuesday as rising oil prices and escalating tensions between Israel and Iran rattled markets.

The S&P 500 dropped 0.8%, the Dow fell 299 points (0.7%), and the Nasdaq lost 0.9%.

Oil prices surged over 4% after President Trump intensified rhetoric against Iran, prompting fears of disruption in global supply.

Weaker-than-expected U.S. retail sales also added to concerns about economic slowdown.

Solar stocks tumbled amid potential loss of clean energy tax credits, while Jabil and Verve Therapeutics saw major gains, the Associated Press has reported.

The Federal Reserve began its policy meeting, expected to hold rates steady.

Written by B.C. Begley