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Markets plunge as oil tops $100 after Trump fails to reassure investors
U.S. stocks fell sharply and oil surged after limited pauses in strikes on Iran failed to reassure investors, pushing yields higher and deepening market losses.
Mar 28th 2026 · United States
Insights
- S&P 500 fell 1.7% Friday, marking a fifth straight weekly decline and down about 7% since the U.S. attacked Iran on Feb. 28.
- Dow lost 1.7% and is over 10% below its recent high, having dropped nearly 4,000 points since the war began.
- Nasdaq declined 2%, leaving it about 13% below its October record close.
- U.S. crude topped $100 a barrel and Brent traded near $114 while the 10-year Treasury yield rose to about 4.4%.
- Trump’s limited pauses on strikes and optimistic comments failed to restore market confidence, which is demanding concrete details and a resolution.
- Higher oil prices and disrupted energy flows increase inflationary pressure and make Federal Reserve rate cuts less likely.