Last mentioned: Mar 18, 2026
Relief Rally
S&P 500 gains 1% as signs of stabilizing oil supply emerge from the Strait of Hormuz.
Market Decline
S&P 500 begins a three-week slide, losing 3.6% as geopolitical fears dominate.
Conflict Escalation
Initial U.S.-Israeli strikes begin, triggering a 40% surge in crude oil prices.
U.S. equities snapped a three-week losing streak on March 16 as the S&P 500 climbed 1% amid signs of stabilizing energy markets. Despite ongoing geopolitical tensions, investor sentiment was bolstered by easing supply chain concerns in the Strait of Hormuz and anticipation for Nvidia's upcoming GTC conference.
White House adviser Kevin Hassett has publicly called for "discipline" among Federal Reserve economists following the release of a study highlighting the negative economic impacts of tariffs. This escalation signals a deepening rift between the administration's trade agenda and the central bank's independent analytical framework.