U.S. Stock Markets Extend Decline as Oil Surges Past $100, Dow Plummets Nearly 750 Points
Major U.S. equity indexes closed sharply lower for a third consecutive week, with the Dow Jones Industrial Average falling nearly 750 points as oil prices surged past $100 per barrel, driven by persistent supply concerns despite a U.S. waiver on certain Russian sanctions.
Key Points
- Dow Jones Industrial Average fell nearly 750 points, extending a three-week decline.
- Oil prices surpassed $100 per barrel, driven by supply concerns despite a U.S. waiver on Russian sanctions.
- Fourth-quarter U.S. GDP was revised down to 0.7% growth, with January core inflation at 3.1%.
Full Details
U.S. stock markets experienced significant losses on March 13, 2026, with the Dow Jones Industrial Average shedding nearly 750 points, marking the third straight week of declines for major indexes. The S&P 500 and Nasdaq also posted losses as oil prices resumed their ascent, breaking above the $100 per barrel threshold due to ongoing supply concerns, even after the U.S. issued a waiver on some Russian sanctions. Treasury yields rose in tandem with the oil rally, reflecting market anxiety over inflation and economic growth. The downturn was exacerbated by a revised fourth-quarter U.S. GDP growth rate of just 0.7% and a core inflation rate of 3.1% for January, highlighting economic headwinds. This market weakness underscores a broader environment of caution among investors, fueled by rising energy costs and geopolitical tensions, including the Iran conflict.
Why It Matters
The sustained market decline and rising oil prices could pressure consumer spending and corporate profits, potentially leading to a broader economic slowdown if inflation remains persistent.
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