Declines

• U.S. equities declined on March 24, 2026, following a stock recovery on Monday, as the Middle East conflict reignited investor concerns and weighed on market sentiment. • The selloff occurred after initial optimism earlier in the week, with mounting concerns about geopolitical risks affecting trading activity throughout the session. • The market downturn reflects broader volatility as investors grapple with the implications of escalating tensions in the region and their potential impact on oil prices and corporate earnings.

• The US long winter COVID-19 wave is ending with all major metrics showing declines or plateaus in SARS-CoV-2 spread nationwide as of mid-March 2026. • COVID-19 test positivity dropped to 2.5% for the week ending March 14, the lowest since 2022, while emergency department visits for COVID reached just 0.4%. • Cases are declining or likely declining in 45 states per CDC forecasts as of March 17, with flu-like illness visits down 12% to 3.3% and RSV levels also falling.

• The S&P 500 dropped approximately 1%, Nasdaq slid 2.3%, and the Dow remained slightly higher on Wednesday as technology led a broad risk-off move triggered by renewed AI disruption fears and weak corporate guidance. • AMD plunged nearly 17% on disappointing outlook, dragging the semiconductor complex lower with Broadcom falling 7%, Micron dropping 11%, Lam Research down 10%, and Applied Materials declining 9%. • Software stocks extended recent declines as investors reassessed competitive risks following new AI product releases, raising concerns that automation could erode pricing power and margins across enterprise, legal, and financial software sectors.

• U.S. stock markets closed lower Thursday as an energy shock continued weighing on investor sentiment, with the S&P 500 falling 0.27%, the Dow Jones Industrial Average dropping 0.44%, and the Nasdaq Composite declining 0.28%. • Commodity-linked stocks experienced severe selloffs: gold fell 4.94%, aluminum dropped over 5%, mining shares plummeted with Hycroft Mining sliding 12.4% and Century Aluminum falling 10.3%. • Asian markets showed mixed performance Friday, with South Korea's Kospi rising 0.6% and China's Shanghai Composite edging 0.2% higher, while Hong Kong's Hang Seng slipped 0.6%, Australia's S&P/ASX 200 fell 0.5%, and Taiwan's Taiex declined 0.2%, with Japan's markets closed for a holiday.

The S&P 500 closed Friday at 6,632.19, down 0.61% for the day and marking its lowest level of 2026 so far, while the Dow Jones Industrial Average dropped 119.38 points. This weekly slide reflects broader concerns over escalating Middle East tensions impacting energy supply chains. Energy stocks like Exxon Mobil and Chevron surged over 20% year-to-date, offsetting losses in airlines such as American Airlines down 31%, highlighting sector divergence. Markets face heightened volatility next week depending on oil prices and geopolitical developments.

On March 13, 2026, thousands filled Tehran's streets for Al-Quds Day celebrations marking the third week of war with the US and Israel, highlighting ongoing anti-Western sentiment. Concurrently, polls show waning American tolerance for the protracted conflict, with growing domestic calls for de-escalation amid economic strain. The rallies underscore Iran's resolve, potentially complicating diplomatic efforts as the US bolsters its Middle East presence.