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"With those Russian barrels in the balance come December, additional supplies from Iran would be helpful," RBC's Helima Croft said.

"Even with a shrinking GDP, the American homeowner is in great shape. There is no panic selling," Altos Research CEO Mike Simonsen said.

"At the very least, intensifying headwinds to profitability imply a low speed limit for equities, capping the upside," TS Lombard said.

From January to July, the surplus ballooned to $167 billion, compared to $50 billion for the same period last year.

Central banks may find themselves in a "debt-trap" as they try to normalize monetary policies, the "Dr. Doom" economist said.

Berkshire slashed its spending on stocks and share repurchases, but bought a top executive's stake in Berkshire Hathaway Energy for nearly $1 billion.

About 58% of investors think the US will fall into a recession within the year, as a hawkish Fed tries to steer the economy into a soft landing.

Cathie Wood, who runs the Ark Innovation ETF, says rising jobless claims are among the signs the US economy is in trouble.

"I believe it is too early to declare the recession watch over," the renowned economist wrote in the Financial Times.

The Nasdaq was looking at a third straight loss with some pressure coming from Micron's sales warning.

Gasoline prices have tumbled from over $5 a gallon in June to roughly $4 as of Tuesday, which has raised hopes for a sharp drop in inflation.

"With commodities lagging other risky assets, we shift some of our risk allocation from equities to commodities," Kolanovic said.

Fuel tankers earned more than $40,000 a day for the last 14 weeks as a result of strong appetite for fuels and longer trading routes.

Crude prices prices rallied by over 1% Tuesday after Russia suspended flows through the southern leg of its Druzhba pipeline.

Fears of a prolonged bear market abound on Wall Street, as some top analysts are holding onto bearish outlooks with no bottom in sight.

The ownership milestone gives Berkshire the option to count some of Occidental's profits as its own, boosting its bottom line.

Any cuts would pile the pressure on Europe's governments, which are dealing with a brutal energy crunch triggered by Russia's invasion of Ukraine.

Higher borrowing costs as the Federal Reserve gets more aggressive with its rate hikes is dampening Americans' optimism over the housing market.

Maharashtra Seamless is the manufacturer of pipes and tubes and has more than doubled its investor’s investment in the last ...

Chipmaker Nvidia sank as much as 8% after reporting preliminary second-quarter sales that were worse than expected.

"The market is going to tighten up very, very quickly," Amrita Sen said, noting the energy market would continue to be choked by supply problems.

The US is helping fill a void for wood pellets in Europe due to Russia's war in Ukraine. Western Europe uses the pellets as an alternative to coal.