Wall Street's main indexes fell sharply on Thursday and the Nasdaq confirmed a correction as investors worried about escalation in the U.S.-Israeli war against Iran, which has sent oil prices soaring and exacerbated inflation concerns. The lack of clear signs of progress sent oil prices soaring, with U.S. crude futures settling up 4.6% compared with a 5.7% advance for Brent futures. "There's a lot of conflicting signals, and it's really the fog of war, the uncertainty of all of it that's driving this." Earlier, data showed new applications for U.S. unemployment benefits rose slightly last week, suggesting a stable labor market and giving the Fed scope to hold rates steady while monitoring the impact of the Iran war. U.S.-listed shares of gold miners, including Sibanye Stillwater SBSW.N and Harmony Gold HMY.N, fell as bullion prices lost ground.

Source: The Standard March 26, 2026 21:44 UTC