Week In Perspective | Markets Dizzied by Rapid Reports [23-March-26]

Updated: 23-March-2026

The Week on Wall Street

Another volatile week unfolded as rapid developments in the Middle East and public comments from leaders on the conflict see-sawed markets, leaving investors struggling to keep up with updates.

 The Standard & Poor’s 500 Index lost 1.89 percent, while the Nasdaq Composite Index fell 2.07 percent. The Dow Jones Industrial Average declined 2.11 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, dropped 2.01 percent.^1,2

Under Pressure

Stocks rebounded to start the week while oil prices eased. Investors kept one eye on potential bargains and the other on the Middle East conflict. Reports of a coalition of countries possibly joining to escort tankers out of the Persian Gulf also gave investors something to cheer.³

Stocks continued their rebound as investors cautiously awaited more developments in the conflict. Markets largely looked past attacks on tanker ships in and around the Strait of Hormuz, through which one out of every five barrels of the world’s oil exports pass.⁴

An unexpectedly warm wholesale inflation reading and the Fed’s decision to hold interest rates steady contributed to pressure on stock prices.

Stocks continued their slide on Thursday, albeit at a slower pace, as optimism that the Strait of Hormuz would reopen soon began to wane. However, markets managed to curb losses in a late-day relief rally.^5,6

Stocks opened lower on the final trading day of the week but stabilized midday. However, after Iran declared force majeure on all foreign-owned oilfields later in the session, stocks came under pressure again as the week closed out.⁷

Fed’s Dot Plot

The Federal Reserve held the Fed funds rate steady at the current 3.5 to 3.75 percent target range. In his press conference, Fed Chair Powell said inflation wasn’t declining as much as policymakers had hoped or projected. The Fed’s “dot plot” (voting members’ medium- to long-term projections on GDP, inflation, and employment) suggests that an adjustment to rates before year-end may still be on the table.⁸

This Week: Key Economic Data

Monday: Construction Spending* (Jan).

Tuesday: Productivity* (Q4, revised). PMI—Services. PMI—Manufacturing.

Wednesday: Import Prices.

Thursday: Weekly Jobless Claims.

Friday: Consumer Sentiment (final).

*Indicates federal data release delayed by the government shutdown
Source: Investors Business Daily - Econoday economic calendar: March 20, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.

This Week: Companies Reporting Earnings

Wednesday: Cintas Corporation (CTAS).

Friday: Carnival Corporation (CCL)

Source: Zacks, March 20, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.

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