By Jake Conley
Publication Date: 2026-03-08 11:43:00
US stocks ended the week sharply lower as the war in Iran and the subsequent rise in global oil prices hammered the global economy.
No corner of the market was left untouched, and most of 2026’s market gains have evaporated.
The S&P 500 closed Friday down 1.3%, a year-to-date loss of 1.5%.
Read more: How oil price shocks affect your wallet, from gas to the grocery store
The Dow Jones Industrial Average (^DJI) lost about 1.0% or around 450 points on Friday, marking a loss of 1.2% for the year. The tech-heavy Nasdaq Composite (^IXIC) fell 1.6% on Friday and has lost about 3.7% since Jan. 1.
Next week, investors will be faced with the same questions as last week, only a little more hectic: How long will this continue?
Daan Struyven, head of oil research at Goldman Sachs, told Yahoo Finance that The effects of war are non-linear. Because every day that the energy shock lasts, it gets worse…
