Wall Street Slips on Credit Card Proposal, Rate Bets Boost Gold

GLOBAL MARKET - NEW YORK. Financial stocks pulled Wall Street indexes lower after warnings about potential changes to lending policy on Tuesday, and gold hit fresh record highs as U.S. inflation data strengthened prospects for rate cuts this year, while unrest in Iran outweighed worries about a supply glut and lifted oil prices.

U.S. President Donald Trump's proposals to cap credit card interest rates and impose a 25% tariff rate on any country that does business with Iran, along with his attacks on Federal Reserve independence, added to market uncertainty, keeping investors cautious.