By William Collins, consultant in stock markets – Eurasia Business News, March 26, 2026. Article no 2057
The Nasdaq is down today while oil has pushed back above 100 dollars a barrel, and the move is tied largely to renewed worries over the Iran war and its impact on growth and inflation.
What’s happening in markets
Major U.S. indexes are trading lower, with the Nasdaq underperforming as investors rotate out of growth and tech amid higher energy prices and geopolitical tension.
The blue-chip Dow (DJI) was last at -0.4%. At the same time, the benchmark S&P 500 (SP500) was -0.8%, and the tech-focused Nasdaq Composite (COMP:IND) was -1.1%.
Reports highlight that skepticism about a ceasefire or meaningful progress in talks over the Iran conflict is weighing on risk appetite and driving a risk‑off tone.
Traders are also reassessing the path of Federal Reserve rate cuts, since higher oil can keep inflation sticky and reduce the odds of aggressive easing this year.
Treasury yields rose across the curve. The 10-year Treasury yield (US10Y) climbed 5 basis points to 4.38%, while the 2-year yield (US2Y) added 5 basis points to 3.94%. The 30-year yield (US30Y) edged up 3 basis points to 4.93%.
Oil back above $100
Brent crude has climbed back above 100 dollars a barrel, reversing the brief move below that level seen earlier this week.
The latest leg higher is being attributed to supply fears linked to the Iran war and broader Middle East tensions, which raise the risk of disruptions in a region that is critical for global oil flows.
Recent data show oil had been hovering near the 100 dollar mark, with Brent in the low 100s in recent days before today’s renewed push higher.
Iran allowed several Pakistan-flagged oil tankers through the Strait of Hormuz, a gesture President Trump called a “present” to the U.S. that shows Iran’s leaders are serious about negotiating.
Why the Nasdaq is falling
Growth and tech names in the Nasdaq are especially sensitive to changes in interest‑rate expectations, so a jump in oil and inflation worries tends to hurt their valuations more than value or energy shares.
Futures and intraday reports indicate the Nasdaq and Nasdaq‑100 are down around 1 percent, noticeably more than the Dow, as traders reduce exposure to higher‑duration assets.
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At the same time, energy stocks and companies tied to commodities are seeing relative support from the move in crude, cushioning the broader market but not enough to offset tech weakness.
Key drivers to watch
Developments in U.S.–Iran and broader Middle East negotiations remain the main driver; headlines about talks, ceasefire prospects, or escalation are swinging both oil and equity futures intraday.
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Incoming inflation data and any fresh guidance from Fed officials on the rate‑cut outlook will shape how long markets think oil‑driven price pressures will last.
For now, markets are in a “higher‑for‑longer energy, slower‑for‑longer growth” mindset, which typically pressures the Nasdaq while supporting oil and, to a degree, energy equities.
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© Copyright 2026 – Eurasia Business News. Article no. 2057
Eurasia Business News 