Mumbai, April 22 -- U.S. stocks and oil prices flip-flopped Tuesday as uncertainty rose about what will happen following a ceasefire in the war with Iran, which had been set to expire Wednesday.

The S&P 500 erased an early rise to fall 0.6% after U.S. Vice President JD Vance called off a trip to Pakistan, where he was expected to lead U.S. negotiators in talks with Iran to extend the ceasefire. The Dow Jones Industrial Average dropped 293 points, or 0.6%, after erasing an earlier gain of 400 points while the Nasdaq composite slipped 0.6%.

Oil prices also wavered before Trump announced the extension, and the price for a barrel of Brent crude went from less than $95 to roughly $100 during the day. It settled at $98.48, up 3.1%.

Stock mar...