Wall St ends sharply lower as intensifying Iran war, soaring crude prompt selloff
By Stephen Culp and Johann M Cherian
Thu March 12, 2026
Today was the worst yet. No bouncing back and forth, just straight down. With the strikes on the two oil tankers in the Strait of Hormuz, hopes of a quick end to the war were also struck down. There were no positives in the tug-of-war, just the war making everyone flee equities for safer havens and all the indexes dropping dramatically right at the outset and staying there all day.