Traders work on the floor of the New York Stock Exchange on March 27, 2026.
Spencer Platt | Getty Images
The Dow Jones industrial average it fell on Friday and fell into the correction zone, while Brent exceeded $ 110 after events in the Strait of Hormuz exacerbated investor concerns about energy supply and the recent comments of President Donald Trump failed to encourage traders to stock up on shares.
The 30-stock Dow fell 793.47 points, or 1.73%, to close at 45,166.64. The S&P 500 it lost 1.67% and ended the session at a seven-month low of 6,368.85. The Nasdaq Composite decreased by 2.15% and settled at 20,948.36.
The broader stock market index saw its fifth weekly decline, down 2.1% in the period. The tech-heavy Nasdaq is down 3.2% for the week so far, while the blue-chip Dow is down 0.9% for the week.
Friday’s drop comes a day after the Nasdaq fell into a correction, which is now about 13% below its record set in October. The Dow fell into correction territory on Friday and ended the session up 10% from the close. The S&P 500 is down 8.7% from its record close.
Dow Jones Industrial Average, year to date
International Brent crude futures rose 4.22% to settle at $112.57 per barrel. US The future of West Texas Intermediate fell 5.46% higher to $99.64 a barrel. It was the closest point since July 2022 for both benchmarks.
President Donald Trump has extended the deadline to attack Iran’s energy facilities until April 6, more than a week after the original date set for Friday.
“At the request of the Government of Iran, I would like this statement to indicate that I am suspending the destruction of the Nuclear Power Plant,” Trump said in a post on Public Truth. “Negotiations are ongoing and, despite the false statements against the Fake News Media, and others, they are going very well. Thank you for your attention to this matter!”
The announcement is the latest sign that the Trump administration is seeking to end the war with Iran, a conflict that has fueled a spike in oil prices that is already hurting consumers at the pump and could cost Republicans seats in the midterm elections.
However, there is uncertainty among investors, after Iran’s foreign minister reported in state media this week that Tehran has no intention of holding talks with the US, although its leaders are reviewing the American proposal to end the war. In addition, The Wall Street Journal reports, citing people familiar with the matter, that the Pentagon is considering sending 10,000 more troops to the Middle East.
The Strait of Hormuz has been closed, Iran’s Revolutionary Guard told state media, adding that navigation through the vital waterway would face a heavy response. Two Chinese ships were diverted from crossing the Strait early Friday, and a Thai-flagged cargo ship that had run aground in the waterway was damaged, Iranian media said.
Although Trump has extended the deadline, investors are in a position to see a resolution to the dispute come to fruition rather than hearing that there is a “probable” resolution, said Jay Hatfield, founder and CEO at Infrastructure Capital Advisors.
The decision would be good for the stock market, which has fallen since the US and Israel attacked Iran’s energy facilities on Feb. 28. The three major sectors have fallen more than 7% month to date.
“The longer the Strait is closed, the worse the oil market will be,” Hatfield said. “The price will come down a lot, but there will still be an inventory problem when the Strait is reopened, so if it takes another month to open the Strait, oil may stay at $80 for a while until we can restore supplies.”
“It is bad if there is no solution, even if there is a solution,” he continued.
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