U.S.-Iran tensions drove a sharp selloff across global markets last week, with pre-market trading pointing to continued pressure as speculation grows over potential ground operations.
The moves follow a bearish session on Wall Street on March 27, where all three major indices closed in negative territory. The Dow Jones Industrial Average slumped 1.73%, pushing it more than 10% below its recent peak. The S&P 500 fell 1.67%, marking its longest losing streak in four years, while the Nasdaq declined 2.15%.
The U.S.-Iran conflict, now in its fourth week, continues to fuel uncertainty as diplomatic efforts show little progress. Despite President Trump’s optimistic statements about negotiations, international media reports suggest the U.S. may be preparing for ground operations. Iran is reportedly bracing for additional airstrikes, adding to market unease.
The Strait of Hormuz remains a key flashpoint. West Texas Intermediate crude has broken above $100 per barrel, while Brent crude is approaching $110.