Oil Shock and Geopolitical Tensions Send Wall Street Reeling as Brent Hits $120

Market Overview: A Sea of Red Amid Energy CrisisU.S. equity markets faced a grueling session on Monday, March 9, 2026, as a perfect storm of geopolitical instability and energy supply shocks sent major indexes tumbling. The primary catalyst was a dramatic escalation in the Middle East conflict, which saw Brent crude oil briefly spike to nearly $120 per barrel following the closure of the Strait of Hormuz. While prices pared some gains late in the day on news of a potential G7 coordinated oil reserve release ...