Markets puke $1T
US equities hemorrhaged roughly $1 trillion in a single session as Iran‑related war fears spiked, leaving major indexes near November lows and fueling frantic trading across SPY/QQQ/SMH (x.com) (x.com). Traders are scouring sector ETFs and commodity plays for hedges as geo‑risk and oil moves reprice risk overnight (x.com).
The selloff happened on Friday, March 13, 2026, when U.S. equities lost an estimated $1 trillion in market capitalization during the trading session. (markets.financialcontent.com) The S&P 500 closed at 6,632.19 on March 13, 2026. (fred.stlouisfed.org) That finish represented the index’s lowest close since November 2025 as geopolitical risk fed a wider downdraft. (fool.com) Derivatives activity showed heavier downside hedging: SPY’s 30‑day put‑call volume ratio registered about 1.036 on March 13, signaling elevated put demand. (alphaquery.com) QQQ also logged elevated options flow and unusual activity in short‑dated contracts during the same period. (marketbeat.com) Oil moves were the immediate catalyst: Brent and WTI both topped $100 per barrel in early March with Brent spiking more than 30% at one point amid supply‑disruption fears. (aljazeera.com) Fortune reported WTI trading near $99.84 per barrel on the morning of March 13, 2026. (fortune.com) Sector rotation was clear: energy majors have surged year‑to‑date, with ExxonMobil, Chevron and peers up roughly 30% in 2026 as crude rallied. (fool.com) At the same time the 10‑year Treasury yield was around 4.28% on March 13, reflecting rapid repricing in fixed income amid the shock. (etftrends.com) News wires and market strategists documented a flight to hedges and safe havens as traders rotated out of growth and into commodity and defensive exposures during the session. (marketscreener.com) Industry data showed net ETF issuance and large weekly ETF flows in the period around March 11–13, underscoring rapid reallocations across funds. (ici.org) Analysts flagged deteriorating market internals and weakening breadth — equal‑weight S&P underperformance and indexes approaching 200‑day moving averages were highlighted by trading desk commentary that week. (philstockworld.com) Market research groups said central banks and strategists would reassess policy and positioning after the oil shock and the March volatility spike. (ig.com)
