Wall Street's main indexes dropped following gains in the previous session, as investors remained cautious about developments in the Middle East. The Dow Jones Industrial Average fell 250.43 points, the S&P 500 lost 56.82 points, or 0.86%, to 6,535.08, and the Nasdaq Composite lost 262.81 points to 21,667.02. Technology stocks were the main laggards, with the tech index falling 1.3%. Memory chipmakers continued to selloff, with Micron Technology, SanDisk and Western Digital down between 3.3% and 4.8%. The escalating conflict in the Mideast has knocked the global economy off a stronger growth path, with a closure of the Strait of Hormuz potentially leading to inflation. Central banks have been put in a tough spot with regard to interest rates, as money market participants no longer price in any easing from the U.S. Federal Reserve this year.