Overview
- The selloff Friday marked a fifth straight weekly loss, with the Dow and Nasdaq now in correction and the VIX near 30.
- Brent near $112 and U.S. crude near $100 reflect constrained flows through the Strait of Hormuz, which the IEA says has produced one of the largest energy shocks on record.
- President Trump pushed his Iran ultimatum to April 6 after Thursday’s close, but Iran rejected U.S. proposals and denied productive talks, keeping hopes for a quick de-escalation low.
- The 10-year Treasury yield climbed toward the mid‑4% range, raising borrowing costs for households and reinforcing bets that the Federal Reserve delays rate cuts.
- Traditional hedges faltered as bonds, gold, and even cryptocurrencies dropped with stocks, offering little portfolio relief as energy costs ripple through the economy.