Oil prices are wavering, and U.S. stocks are falling Tuesday as the countdown ticks toward the latest deadline set by President Donald Trump to destroy Iranian power plants and bridges. The S&P 500 fell 0.

U.S. stocks fell as President Trump’s deadline to reach a truce with Iran quickly approaches with few signs of progress.

Trump wrote on Truth Social that "A whole civilization will die tonight" as his 8 p.m. ET ceasefire deadline approaches. Stocks edged lower and oil rose.

Oil prices settled mixed on Tuesday, with Brent down on worries that high energy prices could ​slow economic growth, while U.S. crude closed at its highest since 2022 ahead of U.S. President Donald Trump's deadline for Iran to open the Strait of ‌Hormuz.

President Trump taunted Iranian leaders on Sunday, threatening to escalate attacks if the Strait of Hormuz was not reopened.

Oil prices climbed in choppy trade on Monday, as the U.S. and Iranratcheted up their rhetoric ​even as the two countries are engaging in indirect talks that could lead to the de-escalation of hostilities.

Oil prices rose Tuesday while equities edged up tentatively as investors assessed Donald Trump's latest deadline for Iran to reopen the strategic Strait of Hormuz or be "decimated".

Amid the ongoing war in Iran, rising fuel prices aare squeezing consumers and business alike.