(CNBC) — U.S. stocks declined on Tuesday, with the S&P 500 retreating from a record for a second day, as geopolitical concerns overshadowed better-than-expected reports on housing and consumer confidence.
Worries about violence in Iraq and the recent rise in oil prices is "the overall theme that is weighing," said JJ Kinahan, chief strategist at TD Ameritrade.
"Keep in mind the direct tax that everybody's budget takes when the price of oil is up significantly. It could have a direct effect on our economy," Kinahan added.
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