finance

Ibex-35 falls 7% in March, biggest monthly drop since June 2022

Global markets fell in March after the outbreak of war in the Middle East and disruptions at the Strait of Hormuz pushed Brent crude above $119 a barrel, triggering broad monthly losses across European, US and Asian indexes.

Mar 31st 2026 · Spain

Insights

  • Spain's Ibex-35 fell about 7% in March, its largest monthly decline since June 2022.
  • Brent crude rose above $119 a barrel, nearing the highest levels since the recent hostilities began.
  • Disruption at the Strait of Hormuz drove major energy market volatility.
  • Germany's DAX lost 10.3% and France's CAC 40 fell 8.9% in March, while the UK's FTSE dropped 6.7% and Italy's MIB 6.13%.
  • US indexes fell about 6.5% for the S&P 500 and 6.7% for the Dow Jones in March.
  • Asian markets were hardest hit, with the Kospi down 19%, the Nikkei down 13.2% and India's main index down 11%.
  • US President Donald Trump urged countries to buy US oil and called for action at the Strait of Hormuz in posts on Truth Social.