Shares on Wall Street fell in volatile trading on Friday (20\/3\/2026)\nlocal time, triggered by the intensifying conflict between the US-Israel\nalliance and Iran, which shows no signs of abating, as well as a surge\nin global oil prices.<\/p>\n
The Dow Jones Industrial Average index dropped 443.96 points or 0.96%\nto 45,577.47. The S&P 500 weakened by 1.51% to 6,506.48, while the\nNasdaq Composite fell 2.01% to 21,647.61.<\/p>\n
The small-cap Russell 2000 index dropped more than 2% and entered\ncorrection territory\u2014that is, a 10% decline from its most recent\npeak.<\/p>\n
At the day\u2019s lowest point, the Dow and Nasdaq also briefly entered\ncorrection territory but closed just below the 10% decline\nthreshold.<\/p>\n
The Wall Street Journal reported, citing US officials, that the\nPentagon is sending thousands of additional Marines to the Middle East.\nCBS News also mentioned \u201clarge-scale preparations\u201d for deploying ground\ntroops to Iran, citing various sources.<\/p>\n
Selling pressure intensified in the afternoon after Reuters reported\nthat Iraq had declared force majeure on all oil fields operated by\nforeign companies. This drove oil prices to surge, with Brent crude\nbriefly breaking through $113 per barrel and WTI trading above $98 per\nbarrel.<\/p>\n
\u201cIf this is an escalation involving ground troops, we could face at\nleast a few weeks ahead with market conditions like this: high oil and\npetrol prices; markets highly sensitive to every piece of news related\nto energy infrastructure in the region,\u201d said Baird investment strategy\nanalyst Ross Mayfield, as quoted by CNBC on Saturday (21\/3\/2026).<\/p>\n
\u201cHonestly, the stock market hasn\u2019t fully corrected to reflect an\nevent of this magnitude, so there\u2019s still potential for further\ndeclines,\u201d he added.<\/p>\n
Meanwhile, concerns that inflation could rise again and that Federal\nReserve rate cuts are becoming less likely pushed up US government bond\nyields on Friday, further pressuring the stock market.<\/p>\n
The major indices recorded their fourth consecutive week of declines.\nThe S&P 500 was relatively more resilient than the others, with a\ndrop of around 7% from its recent peak.<\/p>\n
\u201cIt\u2019s not unusual in conditions like these, with high uncertainty,\nfor a 10% correction to occur in an index,\u201d said Art Hogan from B.\nRiley.<\/p>\n
\u201cBecause the S&P is broader and more diversified, it\u2019s likely to\nbe the last to fall. But this also shows we\u2019re in a very uncertain\nperiod,\u201d he continued.<\/p>\n
Selling pressure was widespread on Friday, with technology\nstocks\u2014which had previously led the market rally\u2014experiencing the\nlargest declines. Nvidia and Tesla each fell around 3%. Almost no sector\nwas safe, as rising yields also pressured the utilities sector, which is\nusually relatively stable.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/wall-street-plunges-again-iran-us-israel-conflict-as-trigger-1774050641", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }