S&P 500, Dow end lower as escalating Iran war sours risk appetite
By Stephen Culp and Johann M Cherian
Wed March 11, 2026
In a day of extraordinarily volatile trading, investors were in a tug-of-war between the bad news of oil supply concerns and subsequent rapidly spiking energy prices as well as Iran’s continuing attacks on ships in the Strait of Hormuz. The flip side of the tug-of-war was the good news of OPEC’s promise today that oil production was being ramped up and exports would continue. The Dow swung wildly hitting a low of more than 600 down by noon but closing at a minus 289, with the Nasdaq also swinging between a high of +180 around 10 a.m. and a low of a -95 around 1:30 pm.
A solid CPI report showing inflation improving and now within ½% of the Fed’s 2% target was brushed off given the reality that spiking oil prices will send inflation upwards again. Also hurting sentiment was Iran’s global threat to send oil prices to $200/barrel. To sum up as today’s expert put it, “There have been these false and inaccurate reports, and the markets are swinging on that type of news. It’s all about how the sustained increase in oil prices is going to affect consumer spending habits.” Thus, the coming PCE report will be closely watched. At 17.79 billion, volume came in below the 20.09 billion average.
DJ: 47,706.51 -34.29 NAS: 22,697.10
+1.16 S&P: 6,781.48
-14.51 3/10
DJ: 47,417.27 -289.24 NAS: 22,716.14
+19.03 S&P: 6,775.80
-5.68 3/11
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