Overview
- Following Friday’s steep selloff, the Dow and Nasdaq fell into correction and the S&P 500 marked a fifth straight weekly decline.
- Brent crude jumped to about $113 a barrel after new disruptions near the Strait of Hormuz, a chokepoint that typically carries roughly 15 to 16 million barrels of oil each day.
- The 10-year Treasury yield climbed to about 4.48% as market tools shifted toward fewer cuts and even some chance of a 2026 rate hike.
- Consumer sentiment fell to 53.3 in March and one-year inflation expectations rose to 3.8%, pointing to pressure on household budgets as fuel costs rise.
- Investors now watch this week’s jobs report and comments from Fed leaders as the Iran-Gulf conflict persists, with the Wall Street Journal reporting the Pentagon is weighing up to 10,000 additional troops for the region.