The Globe and Mail reports in its Wednesday edition that stocks extended their sell-off on Tuesday, as rising U.S. Treasury yields, mounting debt concerns and soaring crude prices kept buyers on the sidelines. A Reuters dispatch to The Globe says the broad-based declines offset gains for the energy sector in both Canada and the U.S. Oil prices rose from expanding hostilities in the Middle East, which included new attacks on Saudi Arabia's energy infrastructure. Diesel prices hit fresh all-time highs in the U.S. "Given rising prices for fuel, especially diesel, given the near-certain outlook for rising rates beginning tomorrow and given the concerns over the potential slowdown in the AI ecosphere, why step into the market aggressively until some of this clears up?" said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Va. The Federal Reserve convened for its two-day monetary policy meeting, which is due to culminate on Wednesday with the central bank's rate decision. Front-month West Texas Intermediate and Brent oil settled up 4.4 per cent and 2.9 per cent respectively. The S&P/TSX Composite Index ended down 120.46 points at 35,582.07. The Toronto Stock Exchange's energy sector rose 3.1 per cent.