Wall Street Hits Seven-Month Lows as Iran War Continues
US stocks hit seven-month lows as the Iran war enters its fifth week. Fed Chair Jerome Powell says officials can wait to see how energy shocks affect inflation.
Global financial markets are facing intense pressure as the conflict involving Iran enters its fifth week, shifting investor anxiety from inflation toward a potential global economic slowdown. As the first quarter draws to a close, the market has seen extreme volatility; Brent crude has surged 85% since the start of the year, while the \"Magnificent 7\" technology stocks have dropped 17% from their recent peaks.
In the equity markets, the S&P 500 and the Nasdaq, Inc. both hit seven-month lows on Monday. The decline is particularly acute for major technology firms, which are increasingly turning to debt markets to finance massive investments in artificial intelligence at a time when borrowing costs are spiking.
