Weekly Stock Market Update | Dow, S&P 500, NASDAQ News – March 29, 2026

This week, the US stock market saw major declines as the Iran war continues into its fifth week, leading to increased oil prices and inflation concerns. Higher bond yields are pulling investors away from stocks and the Dow, the S&P 500, and the Nasdaq each posted substantial losses.

1. The Dow closed down 793 points or 1.73% at 45,167, marking a 10% drop from its peak in February. This puts the Dow in correction territory, defined as a fall of more than 10% and less than 20% from a peak.

2. The S&P 500 fell 1.67% this week and is now down over 7% for the year. This index is also nearing correction, being down 8.74% from its peak in late January. The S&P 500 will join the Dow and the Nasdaq in a correction path if it falls over 10%.

3. The Nasdaq Composite fell into correction territory early in the week. The index witnessed a 2.15% decline on Friday and finished the week with a stark 3.23% dip. It is presently down more than 12.5% from a record high in October.

Several major technology stocks suffered this week, including Alphabet down nearly 9%, Microsoft falling close to 7%, Nvidia and Amazon each slipping about 3%, and Tesla decreasing nearly 2%. Meta was especially hard-hit with a drop of over 11% due to legal issues. Micron, despite robust earnings and a strong performance in the previous year amidst the AI processor demand, witnessed a 15% decline in shares. Apple fared better with a slight gain.

Oil prices surged with Brent crude up by 4.22% to $112.57 per barrel and US crude oil up by 5.46% to $99.64 per barrel. This rise in oil is due to continued high global demand and the closure of the Strait of Hormuz. The elevated oil prices are causing increased inflation and causing the stock market to fall further.

Investors are now bracing for a longer conflict as Iran’s government officials showed no intention of holding talks with the U.S., leading to a ramping up of U.S. forces in the Middle East.

Economic news this week also included payroll reports and job numbers. Economists polled by FactSet predicted that the economy will have grown by 57,000 in March, far exceeding the loss of 92,000 jobs in the prior month. The unemployment rate is expected to have held at 4.4%.

The financial market is set for more turbulence and volatility in the coming weeks, given the ongoing geopolitical tensions across the globe.

US stock markets experienced significant falls this past week due to uncertainties stemming from an unending war situation in the Gulf region. The S&P 500 and Dow Jones dropped by about 1.7% on Friday, marking the longest losing streak since 2022. Both indices have lost 7% and 6% respectively on the year so far. The Nasdaq Composite, which is heavily laden with tech stocks, dropped even more with a 2.2% decrease on Friday, bringing its year-to-date loss to around 10%.

Key corporate results expected in the week ahead include earnings reports from NIKE, USA Rare Earth, and Trilogy Metals. The ongoing closure of the Strait of Hormuz, a vital passage for global oil transportation, by Iran has led to a surge in global oil prices. Brent crude and US WTI crude have seen prices increase over 45% and 50%, respectively, over the past month as around 15-16 million barrels of oil per day are choked off from the market.

Some major losers in the stock market this week were social media giants Meta, Snap, and Reddit in light of recent legal rulings that could signify the start of a new era of legal concerns around these businesses’ responsibilities for the content on their platforms. Negative legal headlines combined with previously existing problems in the currently weak stock market intensified losses for these stocks this week.

On a more positive note, digital wealth being turned into physical land by using cryptocurrency for acquiring mortgages that comply with Fannie Mae’s standards was a noteworthy development announced by lender Better Home and Coinbase.

Microsoft has also reportedly enforced a hiring freeze in several key divisions like sales and cloud, a move seen as indicative of future labor market trends amid an AI revolution. Such an approach could avoid a flurry of layoffs, allowing attrition followed by a hiring freeze to manage labor requirements with less PR drama and expenditure. This may be a necessary adaptation as AI starts to challenge certain conventional investments in human resources.