Why Is the Stock Market Down Today, 3/26/26?

Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading lower on Thursday as investors grow uneasy about a U.S.-Iran ceasefire in the near term.

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The U.S. presented Iran with a 15-point plan to end the war earlier this week, although an Iranian senior official told Reuters that the proposal was “one-sided and unfair,” benefiting only the U.S. and Israel. “In brief, the proposal ​suggests that Iran would relinquish its ability ‌to ⁠defend itself in exchange for a vague plan to lift sanctions,” said the official.

Iran Open to Talks ahead of Trump’s Friday Deadline

While the official noted that there are no current plans for talks or negotiations, Iran is open to starting them if meaningful common ground can be established. Both Pakistan and Turkey have been active in trying to close the gap in ceasefire conditions between the two sides.

That comes ahead of a Friday evening deadline provided by President Trump, who said he would attack Iran’s power plants if the Strait of Hormuz remained closed by then. It’s not clear if he will follow through with the threat, although the warning has put investors on edge.