It was another rough session for the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ), with both ETFs closing at year-to-date lows on the 27th day of the U.S.-Iran war.
Claim 55% Off TipRanks
New trading tool for QQQ bullsNews That Moved the Stock Market Today
- Secretary of State Marco Rubio told G7 ministers that the war will likely continue for another two to four weeks.
- Iran has yet to respond to a 15-point peace proposal provided by the U.S., although a response could come today or on Saturday. A senior Iranian official said it was “intolerable” that the U.S. was seeking a ceasefire while striking Iran at the same time.
- The Index of Consumer Sentiment fell to a three-month low of 53.3 in March, driven by a significant decline in middle- and higher-income consumers. In addition, year-ahead inflation expectations rose to 3.8% from 3.4%, registering the largest one-month jump since April 2025.
- China launched two trade probes against the U.S. in retaliation for the two Section 301 trade investigations the U.S. initiated earlier this month.
- Software stocks, including Microsoft (MSFT), Palantir (PLTR), and CrowdStrike (CRWD), faced pressure from the threat of AI.
- Wedbush analyst Dan Ives believes Tesla (TSLA) could merge with SpaceX by 2027.
- Netflix (NFLX) announced a price hike across all of its subscription tiers, effective March 26.
- Citi reiterated its SanDisk (SNDK) price target of $875, labeling the company as an AI beneficiary and commending its competitive advantage.
Today’s Best-Performing Sector
Energy was the best-performing sector for a second consecutive day as Brent crude oil futures (BZ) rose 5%. With the Strait of Hormuz remaining at a near standstill, markets are pricing in tighter global supply and the risk of further disruptions to oil flows.
Several energy stocks led the sector’s gains, including:
Today’s Worst-Performing Sector
Meanwhile, the consumer discretionary sector faced the largest drawdown, driven by higher inflation expectations from rising oil prices. Higher fuel costs pressure consumer spending, which weighs on demand for non-essential goods, including travel, entertainment, and dining.
Notable consumer discretionary stocks trading lower include: