Stocks sag, ending a two-day advance; oil rises above $60; Estee Lauder up on earnings
{{#rendered}} {{/rendered}}Stocks are closing lower following two days of gains that brought the market close to a record high.
Vornado Realty Trust slumped 4 percent Tuesday after reporting results that fell short of analysts' forecasts. Estee Lauder jumped 4 percent after its results beat estimates.
The Standard & Poor's 500 index fell 25 points, or 1.2 percent, to 2,089.
{{#rendered}} {{/rendered}}The Dow Jones industrial average lost 142 points, or 0.8 percent, to 17,928. The Nasdaq composite fell 77 points, or 1.6 percent, to 4,939.
The price of oil closed above $60 a barrel for the first time since December. That helped send energy stocks higher. Oil has risen 20 percent in the last month.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.