NASDAQ:PUBM 11 November 2025

March 22, 2026, 3:33 PM EDT. U.S. stock markets hit a six-month low with the S&P 500 dropping 1.51% amid rising oil prices sparked by geopolitical tensions involving Iran. Brent crude surged 8.8% last week, fueled by President Trump's ultimatum threatening strikes on Iranian power plants if the Strait of Hormuz remains closed. Higher crude prices heightened inflation fears and pushed bond yields up, dampening hopes for a rate cut. The Federal Reserve maintained rates at 3.50%-3.75%, with Chair Jerome Powell highlighting energy costs as a key inflation driver but offering no clear outlook on the economy. Market participants saw $24.78 billion exit equity funds, while money market funds gained $32.73 billion. Investors will watch next week's CERAWeek energy conference and Federal Reserve speeches closely amid volatility.