Stocks Pressured by Economic Fallout from Iran War

Market Performance - The S&P 500 Index closed down -0.39%, marking a 7.5-month low, while the Nasdaq 100 Index fell -0.78%, reaching a 7.75-month low [2] - The Dow Jones Industrial Average managed to close up +0.11%, supported by strength in software stocks [2] Economic Indicators - The 10-year T-note yield decreased by -8 basis points to 4.34%, influenced by concerns over the Middle East conflict potentially leading to a fuel shortage and impacting global economic growth [3] - The Dallas Fed manufacturing activity survey fell by -0.4 to -0.2, which was weaker than the expected increase to 2.0 [4] Geopolitical Events - The ongoing conflict in the Middle East, particularly involving Iran, has raised concerns about its impact on economic growth and stock performance [2][5] - The Pentagon is preparing for extended ground operations in Iran, with approximately 3,500 sailors and Marines deployed to the region [5] Oil Market Dynamics - Crude oil prices rose over +3% to a 3-week high, driven by the closure of the Strait of Hormuz due to Iranian attacks on shipping, which has disrupted oil and gas flows [6] - Goldman Sachs has warned that crude prices could exceed the 2008 record high of nearly $150 per barrel if the situation in the Strait of Hormuz does not improve by March [6]