US Stocks Extend Retreat

2026-03-12 13:34 By Andre Joaquim 1 min. read

US equities fell to their lowest since November of last year on Thursday as energy prices surged further and magnified risks of stagflation in the global economy.

The S&P 500, Dow, and Nasdaq 100 dropped close to 1%.

The IEA's decision to release 400 million barrels of oil from strategic reserves failed to limit another rally in crude and product prices as strikes between Iran, Israel, and GCC members intensified and tankers refrained from crossing the Strait of Hormuz.

Yields on Treasuries across the curve maintained their increases this week amid the higher energy prices and lower jobless claims, pressuring credit-sensitive companies.

Stocks in the financial sector remained under added scrutiny after Morgan Stanley and Cliffwater were the latest to cap withdrawals from private credit funds, raising concerns of bad loans.

Morgan Stanley sank 4%, while Goldman Sachs and Blue Owl fell 3%.

Meanwhile, Adobe was flat ahead of its earnings.



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