On March 23, 2026, the S&P 500 Index rose by 1.73%, the Dow Jones Industrial Average gained 1.97%, and the Nasdaq 100 Index increased by 1.79%. This uptick followed President Trump’s announcement that U.S. strikes against Iranian energy targets would be postponed for five days amid ongoing discussions aimed at resolving tensions in the Middle East.
Crude oil prices dropped over 7% due to the news, significantly impacting global markets. The International Energy Agency reported that the ongoing conflict in Iran is disrupting approximately 7.5% of global oil supply, projecting a reduction of up to 8 million barrels per day for the month. Meanwhile, U.S. 10-year Treasury yields fell from an eight-month high of 4.44% to 4.27%, indicating a potential easing of inflation concerns.
In response to expectations of decreased conflict, airline and cruise stocks, such as Norwegian Cruise Line Holdings (up 6%) and Carnival (up 5%), saw significant gains. Conversely, defense stocks declined, with Lockheed Martin and Northrop Grumman both down more than 1% as prospects for military engagement appeared to diminish.
