Markets: >7% war drawdown
Major US indices — S&P 500, Dow and NASDAQ — are down more than 7% since the start of the current international conflict, signalling heightened risk aversion among investors (youtube.com). Technical analysts are already mapping new downside targets while contrarian voices flag selective buy setups amid the pullback (youtube.com).
Since the U.S. and Israeli strikes on Iran began Feb. 28, the Dow has fallen roughly 3,800 points while the S&P 500 and Nasdaq are both down about 8% from levels at the start of the conflict. (stocktwits.com, ) Brent crude settled at $112.78 and WTI at $102.88 in late March, with Brent up about 55% in March and WTI up roughly 53% — the biggest monthly surge on record for Brent. (cnbc.com, ) The Cboe Volatility Index jumped to 27.44 on March 26, its highest sustained reading in more than a year, reflecting a rapid shift from low-volatility conditions to elevated fear. (financialcontent.com, ) Mega-cap technology names have been hit hardest: Microsoft is down about 32% from its October peak, Meta roughly 25% and Alphabet about 15% from recent highs. (aol.com, ) Energy and defense stocks have rallied as oil topped $100, even as traditional safe havens including bonds, gold and bitcoin also sold off — Bloomberg said the episode left investors “with limited options” for protection. (bloomberg.com, ) The S&P 500 finished a recent week 8.74% below its Jan. 27 all-time high, and major banks such as Goldman Sachs have pushed back on markets pricing a materially more hawkish Fed response to the oil shock. (advisorperspectives.com, investing.com, )
