US stocks retreated on Tuesday on escalating the Israel-Iran conflict and ahead of the Federal Reserve’s monetary policy decision. 

At the opening bell, the Dow Jones Industrial Average fell 156.5 points, or 0.37%, to 42358.62. The S&P 500 fell 21.0 points, or 0.35%, to 6012.15​, while the Nasdaq Composite dropped 74.1 points, or 0.38%, to 19627.082. 

The US central bank began a two-day monetary policy meeting on Tuesday. It is widely expected to keep interest rates unchanged.

Data showed overall US retail sales dropped by 0.9% from April to $715.4 billion, a bigger-than-expected fall that suggests a slowing sales last month.

US President Donald Trump departed early from a G7 meeting in Canada, saying he wanted a “real end” to the conflict, not just a ceasefire, and a “complete give-up” by Iran.

Bullion

Gold prices gained on Tuesday as geopolitical tensions escalated in the Middle East.

Spot gold was up 0.2% at $3,390.73 an ounce as of 10:00 AM EDT (1400 GMT). US gold futures fell 0.2% to $3,410.40.

Spot silver rose 2.1% to $37.1 per ounce, platinum added 0.4% to $1,251.81 and palladium rose 1.7% to $1,047.23.