Wall Street Slumps with S&P 500 Down 1.4% to 6,624.70 After Fed Holds Rates Steady

• The U.S. dollar fell slightly to 159.70 Japanese yen from 159.88 yen, while the euro rose to $1.1478 from $1.1453 in early Thursday trading. • Currency moves followed Wall Street's slump, with Dow dropping 1.6% to 46,225.15, amid steady Fed rates and oil-driven inflation concerns. • A stronger dollar, combined with higher U.S. yields and oil prices over $111, pressured Asian assets and currencies significantly.

• US stock indexes opened lower on March 18, 2026, following accelerated Producer Price Index (PPI) data for February, with Russell 2000 down 0.84%, Dow Jones -0.42%, S&P 500 -0.28%, and Nasdaq -0.23%. • The Cboe Volatility Index rose 3.76% to 23.21, while US 10-year Treasury yield increased 2.2 basis points to 4.224%, and gold futures fell nearly 3% to $4,860.40. • Investors await Federal Reserve's afternoon decision expected to keep rates steady but provide economic insights amid inflation concerns and Iran conflict escalation.

• U.S. stocks opened higher on March 17 with Dow up 0.66%, S&P 500 up 0.42%, and Nasdaq up 0.33%. • Qualcomm shares rose 3.2% after approving a $20 billion stock buyback plan and boosting its dividend. • The announcement signals strong confidence in future cash flows amid semiconductor demand.

• U.S. stocks ended higher on March 17, with the Dow Jones up 0.1% to 46,993.26, S&P 500 up 0.25% to 6,716.09, and Nasdaq up 0.47% to 22,479.53. • Energy sector led gains at 1.02% amid oil surge tied to Middle East tensions, while health care lagged down 0.92%. • Investors await Federal Reserve policy guidance from its latest meeting, boosting market sentiment despite volatility.

• U.S. stock markets closed higher on Monday, rebounding from 2026 lows as crude oil prices fell, easing inflation concerns and spurring gains across all three major indexes. • The Dow Jones Industrial Average advanced 0.8% or 387.94 points to 46,946.41, the Nasdaq Composite gained 1.2% or 268.82 points to 22,374.18, and the S&P 500 rose 1% to 6,699.38; technology stocks led gains amid AI trade recovery. • The CBOE Volatility Index declined 13.5% to 23.51, signaling reduced market anxiety, with 25 of 30 Dow components ending in positive territory.

• Oracle reported earnings that exceeded expectations, lifting its stock price, while Adobe continues to face investor skepticism over its AI strategy and competitive positioning amid broader tech sector repricing. • Morningstar downgraded Adobe's economic moat rating alongside Salesforce and ServiceNow, citing concerns that AI disruption could erode traditional software competitive advantages and justify lower valuation multiples. • The broader earnings season reveals a disconnect between traditional valuation metrics and AI disruption risks, prompting investors to reassess which software companies can sustain pricing power and market share in an AI-transformed landscape.

• The Federal Reserve opened a two-day monetary policy meeting this week with a rate decision expected Wednesday, as officials evaluate the impact of surging oil prices and Middle East conflict on inflation trajectories. • Uncertainty around geopolitical fallout is deepening divisions within the central bank over the interest rate path forward; officials are widely expected to leave rates unchanged on Wednesday despite elevated crude prices. • Rising oil and gasoline prices are weighing on earnings estimates and consumer spending forecasts, creating additional complexity for Fed policymakers balancing inflation and growth concerns.

• West Texas Intermediate crude topped $100 per barrel for the first time since 2022 in early Monday trading, while Brent held above $102, driven by ongoing Middle East conflict in the Strait of Hormuz entering its third week. • Several tankers successfully transited the waterway over the weekend, lifting market sentiment; however, WTI pulled back to $95 by late trading, down over 3%, as President Trump pressured NATO allies to help break Iran's blockade. • The Dow, S&P 500, and Nasdaq rose as investors weighed the dual impact of potential Hormuz reopening against inflation concerns; Federal Reserve officials begin a two-day policy meeting this week amid uncertainty over rate path decisions.

• Nvidia held its annual GTC technology conference on Monday, March 16, with CEO Jensen Huang delivering the keynote address amid broader market volatility tied to geopolitical tensions and oil price fluctuations. • The event timing coincides with elevated uncertainty in tech stocks, as investors reassess earnings estimates downward and monitor the impact of elevated oil prices on corporate profitability and consumer spending. • Tech sector performance remains sensitive to macroeconomic headwinds, including potential inflation from energy costs and Federal Reserve policy decisions expected this week.

• Micron Technology (MU) is set to report earnings this week as investors monitor semiconductor sector performance amid broader concerns about AI-driven disruption and competitive dynamics in memory chip markets. • Morningstar research highlights which tech companies possess durable economic moats resistant to AI disruption, with analysis suggesting Microsoft maintains strong competitive advantages while others like Adobe and Salesforce face pressure. • The earnings season context reveals downward revisions to profit estimates across sectors, particularly for companies exposed to elevated energy costs and consumer spending weakness tied to oil price shocks.

• A Trump-backed refinery project in Texas is advancing as a potential first new U.S. refinery in years, with the initiative receiving attention amid elevated crude oil prices and energy supply concerns tied to Middle East conflicts. • The project reflects broader energy policy shifts and interest in domestic refining capacity expansion, particularly relevant given current geopolitical supply disruptions affecting global oil markets. • Fox Business reported that if Trump's administration had not acted on the refinery initiative, his successor would face significant energy infrastructure challenges, underscoring the long-term strategic importance of domestic refining capacity.