Overview
- Following Friday's steep selloff, the S&P 500, Dow, and Nasdaq each fell about 1.7% to 2.0% to notch a fifth straight weekly decline and fresh multi‑month lows.
- Brent crude hovered near $112 to $115 as the Strait of Hormuz stayed largely shut, cutting an estimated 15 to 16 million barrels per day and choking shipments that also carry LNG, fertilizer inputs, and helium.
- Bond markets priced hotter inflation with the 10‑year Treasury yield near 4.48%, the dollar strengthened, and traders pushed out expectations for Fed cuts while some tools showed rising odds of a future hike.
- Strains deepened in India as foreign investors pulled about ₹1.14 lakh crore this month, the rupee slid past 94 per dollar, and global brokerages trimmed India Inc earnings and lowered Nifty targets by roughly 10% to 12%.
- Analysts warned that another month of closure could lift oil toward $150 a barrel, a spike that would raise costs for transport, food, and manufacturing and could tip more economies toward recession.