Market Update
U.S. and Global Stocks Turned Lower Amid Higher-for-Longer Inflation Worry
Barry Adams
26 Mar, 2026
New York City
Stocks in New York edged lower amid ongoing uncertainty over the conflict in the Middle East, and crude oil prices turned higher.
The S&P 500 Index decreased 0.6%, and the tech-heavy Nasdaq Composite declined 0.7% as investors reviewed contradictory statements from the U.S. president.
The price of West Texas Intermediate crude oil increased 3% to $93.36 a barrel, and the Brent crude price rose 4% to $106.26 a barrel.
Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation for the U.S.-Iran joint strikes.
Market sentiment improved after Japan received two oil tankers from the Middle East, easing some supply pressures, but shipments to India, Taiwan, and Korea have lagged expectations.
Moreover, investors worried that the recent surge in crude oil prices could stoke overall U.S. and global inflation if the war in the Middle East continues several more weeks.
Despite the calls for a ceasefire, the U.S. is preparing for a ground offensive targeting Iran's southern coast, and as many as 9,000 soldiers are preparing for the invasion that could come as early as midnight Friday.
U.S. Movers
MillerKnoll, Inc. dropped 19% to $15.74 after the office furniture company reported weaker-than-expected fiscal third-quarter results.
Worthington Steel plunged 14% to $30.10 after the steel processing company reported a sharp decline in adjusted earnings compared to a year ago.
Chewy Inc. soared 13% to $26.57 after the online pet food store operator reported quarterly results and estimated another year of revenue growth and margin expansion.
Paychex jumped 3% to $93.36 after the payroll processing services provider reported solid results in the fiscal third quarter.
U.S. and Global Stocks Turned Lower Amid Higher-for-Longer Inflation Worry
Barry Adams
26 Mar, 2026
New York City
Stocks in New York edged lower amid ongoing uncertainty over the conflict in the Middle East, and crude oil prices turned higher.
The S&P 500 Index decreased 0.6%, and the tech-heavy Nasdaq Composite declined 0.7% as investors reviewed contradictory statements from the U.S. president.
The price of West Texas Intermediate crude oil increased 3% to $93.36 a barrel, and the Brent crude price rose 4% to $106.26 a barrel.
Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation for the U.S.-Iran joint strikes.
Market sentiment improved after Japan received two oil tankers from the Middle East, easing some supply pressures, but shipments to India, Taiwan, and Korea have lagged expectations.
Moreover, investors worried that the recent surge in crude oil prices could stoke overall U.S. and global inflation if the war in the Middle East continues several more weeks.
Despite the calls for a ceasefire, the U.S. is preparing for a ground offensive targeting Iran's southern coast, and as many as 9,000 soldiers are preparing for the invasion that could come as early as midnight Friday.
U.S. Movers
MillerKnoll, Inc. dropped 19% to $15.74 after the office furniture company reported weaker-than-expected fiscal third-quarter results.
Worthington Steel plunged 14% to $30.10 after the steel processing company reported a sharp decline in adjusted earnings compared to a year ago.
Chewy Inc. soared 13% to $26.57 after the online pet food store operator reported quarterly results and estimated another year of revenue growth and margin expansion.
Paychex jumped 3% to $93.36 after the payroll processing services provider reported solid results in the fiscal third quarter.
Japan indexes Erase Early Gains Amid Resurgent Inflation Worries
Akira Ito
26 Mar, 2026
Tokyo
Stocks in Tokyo meandered amid contradictory signals from the U.S. and Iran, and investors shifted their attention to the earnings outlook.
The Nikkei 225 stock average fell 0.7%, and the broader Topix index decreased 0.6%.
Brent crude oil prices rose 2.1% to $104.29 a barrel as Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation for the U.S.-Iran joint strikes.
Market sentiment improved after Japan received two oil tankers from the Middle East, easing some supply pressures.
However, investors worried that the recent surge in crude oil prices could stoke overall inflation if the war in the Middle East continues.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 53,391.31, and the broader Topix Index declined 0.6% to 3,628.60.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 0.2% and 0.4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial traded volatilely and swung between losses and gains.
Nippon Yusen KK increased by 0.9%, Mitsui O.S.K. Lines advanced 2.2%, and Kawasaki Kisen Kaisha advanced between 5%.
Japan indexes Erase Early Gains Amid Resurgent Inflation Worries
Akira Ito
26 Mar, 2026
Tokyo
Stocks in Tokyo meandered amid contradictory signals from the U.S. and Iran, and investors shifted their attention to the earnings outlook.
The Nikkei 225 stock average fell 0.7%, and the broader Topix index decreased 0.6%.
Brent crude oil prices rose 2.1% to $104.29 a barrel as Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation for the U.S.-Iran joint strikes.
Market sentiment improved after Japan received two oil tankers from the Middle East, easing some supply pressures.
However, investors worried that the recent surge in crude oil prices could stoke overall inflation if the war in the Middle East continues.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 53,391.31, and the broader Topix Index declined 0.6% to 3,628.60.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 0.2% and 0.4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial traded volatilely and swung between losses and gains.
Nippon Yusen KK increased by 0.9%, Mitsui O.S.K. Lines advanced 2.2%, and Kawasaki Kisen Kaisha advanced between 5%.
China's Indexes Lost Momentum Amid Global Headwinds and Earnings Worries
Li Chen
26 Mar, 2026
Hong Kong
Stocks turned lower, and investors stayed on the sidelines amid conflicting statements from the U.S. and Iran to end the war.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index decreased 0.5% amid growing skepticism about the U.S. peace plan.
Brent crude oil prices rose 1.5% to 1.6% to $106.87 a barrel as Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation to the U.S.-Iran joint strikes.
Market sentiment also suffered from corporate results, as investors expressed concerns about future earnings growth.
China Indexes and Stocks
The Hang Seng Index decreased 1.4% to 24,988.04, and the mainland-focused CSI 300 Index declined 0.5% to 4,516.10.
Haidilao International decreased 1.4% to HK $14.01, and the restaurant chain operator reported a 14% decline in 2025 net income.
Pop Mart International Group dropped 9.5% to HK $152.60 after the company's annual results fueled anxieties about the over-reliance on Labubu products for future growth.
Hesai Group declined 3.5% to HK $160.40, and the largest maker of lidar sensors reported record revenue in the fourth quarter, but the company's elevated research and development.
The key supplier of Xiaomi’s auto unit – swung to a net profit of 435.9 million yuan in 2025 from a net loss of 102 million yuan a year earlier.
The surge in annual demand for lidar (laser distance and ranging) units, which are used to sense distance in cars and robots, lifted shipments by 223% to 1.62 million units.
Xiaomi Corp. rose 0.7% to HK $32.76, and the smartphone maker reported a 27% drop in fourth-quarter profit to 6.5 billion yuan or $943 million.
The company said a sharp jump in memory prices is likely to force smartphone makers to pass higher prices to consumers and accelerate industry consolidation.
The average smartphone selling price decreased 2.2% to 1,176 yuan from 1,202 yuan a year ago despite the company's shift to premium models.
China's Indexes Lost Momentum Amid Global Headwinds and Earning
Li Chen
26 Mar, 2026
Hong Kong
Stocks turned lower, and investors stayed on the sidelines amid conflicting statements from the U.S. and Iran to end the war.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index decreased 0.5% amid growing skepticism about the U.S. peace plan.
Brent crude oil prices rose 1.5% to 1.6% to $106.87 a barrel as Iran rejected the U.S. claims of ceasefire talks, and the embattled nation demanded $100 billion in war reparations and fees for the passage of oil cargo ships through the Strait of Hormuz.
At least 30% to 40% of energy infrastructure is destroyed in the Middle East after Iran stepped up its attacks in retaliation to the U.S.-Iran joint strikes.
Market sentiment also suffered from corporate results, as investors expressed concerns about future earnings growth.
China Indexes and Stocks
The Hang Seng Index decreased 1.4% to 24,988.04, and the mainland-focused CSI 300 Index declined 0.5% to 4,516.10.
Haidilao International decreased 1.4% to HK $14.01, and the restaurant chain operator reported a 14% decline in 2025 net income.
Pop Mart International Group dropped 9.5% to HK $152.60 after the company's annual results fueled anxieties about the over-reliance on Labubu products for future growth.
Hesai Group declined 3.5% to HK $160.40, and the largest maker of lidar sensors reported record revenue in the fourth quarter, but the company's elevated research and development
Stocks, Oil, and Gold React Amid Hopes of U.S.-Iran Talks Yielding Results
Barry Adams
25 Mar, 2026
New York City
Wall Street stocks advanced amid conflicting signs over the Middle East, and volatile crude oil prices decreased for the second consecutive day.
The S&P 500 Index increased 0.7%, and the tech-heavy Nasdaq Composite advanced 1.0% as investors hoped for the resumption of the flow of crude oil and natural gas through the Strait of Hormuz.
Market sentiment in New York improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
The West Texas Intermediate crude oil price declined 5.2% to $87.34 a barrel, and the spot gold price advanced 1.7% to $4,556 an ounce in New York.
U.S. Movers
KB Home decreased 3.2% to $51.01 after the homebuilder reported fiscal first quarter revenue and earnings below the market expectations. Moreover, the company's current-quarter home sales and housing revenue missed investor expectations.
GameStop Corp. inched higher 0.7% to $22.97 after the video game retailer's fiscal fourth quarter revenue and adjusted earnings were slightly below market expectations.
Braze Inc. jumped 21.5% to $21.90 after the cloud computing company's fiscal fourth quarter results and current quarter estimates surpassed market expectations.
Chewy Inc. increased 2.1% to $23.94 ahead of the company's quarterly results later today. The online retailer of pet food is facing persistent demand growth challenges amid a sharp rise in energy prices and intensifying competition.
Stocks, Oil, and Gold React Amid Hopes of U.S.-Iran Talks Yielding Results
Barry Adams
25 Mar, 2026
New York City
Wall Street stocks advanced amid conflicting signs over the Middle East, and volatile crude oil prices decreased for the second consecutive day.
The S&P 500 Index increased 0.7%, and the tech-heavy Nasdaq Composite advanced 1.0% as investors hoped for the resumption of the flow of crude oil and natural gas through the Strait of Hormuz.
Market sentiment in New York improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
The West Texas Intermediate crude oil price declined 5.2% to $87.34 a barrel, and the spot gold price advanced 1.7% to $4,556 an ounce in New York.
U.S. Movers
KB Home decreased 3.2% to $51.01 after the homebuilder reported fiscal first quarter revenue and earnings below the market expectations. Moreover, the company's current-quarter home sales and housing revenue missed investor expectations.
GameStop Corp. inched higher 0.7% to $22.97 after the video game retailer's fiscal fourth quarter revenue and adjusted earnings were slightly below market expectations.
Braze Inc. jumped 21.5% to $21.90 after the cloud computing company's fiscal fourth quarter results and current quarter estimates surpassed market expectations.
Chewy Inc. increased 2.1% to $23.94 ahead of the company's quarterly results later today. The online retailer of pet food is facing persistent demand growth challenges amid a sharp rise in energy prices and intensifying competition.
Japan Stocks Extended 2-Day Gains Amid Middle East Truce Hopes
Akira Ito
25 Mar, 2026
Tokyo
Japan's benchmark indexes extended gains for the second consecutive session amid hopes that the latest developments in the Middle East could improve the flow of crude oil from the region.
The Nikkei 225 Stock Average shot up 2.8%, the Topix Index increased 2.5%, and the yen weakened 0.1% to 158.76 against the U.S. dollar.
Market sentiment in Tokyo improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 2.8% to 53,700.05, and the broader Topix Index added 2.5% to 3,648.93.
Technology and AI-related stocks led the advance in Tokyo.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 2% and 4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 0.3% and 1%.
Nippon Yusen KK increased 0.5%, Mitsui O.S.K. Lines advanced 1%, and Kawasaki Kisen Kaisha advanced 2.2% to ¥2,615.50.
Japan Stocks Extended 2-Day Gains Amid Middle East Truce Hopes
Akira Ito
25 Mar, 2026
Tokyo
Japan's benchmark indexes extended gains for the second consecutive session amid hopes that the latest developments in the Middle East could improve the flow of crude oil from the region.
The Nikkei 225 Stock Average shot up 2.8%, the Topix Index increased 2.5%, and the yen weakened 0.1% to 158.76 against the U.S. dollar.
Market sentiment in Tokyo improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 2.8% to 53,700.05, and the broader Topix Index added 2.5% to 3,648.93.
Technology and AI-related stocks led the advance in Tokyo.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 2% and 4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 0.3% and 1%.
Nippon Yusen KK increased 0.5%, Mitsui O.S.K. Lines advanced 1%, and Kawasaki Kisen Kaisha advanced 2.2% to ¥2,615.50.
China and Asian Markets Rebounded Amid Hopes of Receding Tensions in Middle East
Li Chen
25 Mar, 2026
Hong Kong
Stocks in China and Hong Kong advanced in cautious trading, and crude oil prices edged lower in volatile trading.
The Hang Seng Index inched higher, and the mainland-focused CSI 300 Index gained 1% amid expectations that Middle East tensions could recede in the days ahead.
The Trump administration signaled a diplomatic push as the U.S. prepares for a possible ground invasion as early as this weekend.
The U.S. Navy is preparing to capture Kharg Island and choke off Iran's crude oil shipments and revenue.
The island invasion is not without risks and could further destabilize the flow of energy products through the Strait of Hormuz, the key waterway for the flow of 39% of global crude oil.
China Indexes and Stocks
The Hang Seng Index edged up 0.1% to 25,094.52, and the mainland-focused CSI 300 Index increased 1% to 4,518.19.
Benchmark indexes in Japan and South Korea advanced more than 3% amid hopes that a diplomatic push to end the latest Middle East conflict could restart the flow of energy products through the narrow passage between the UAE and Iran.
Nongfu Spring Co. jumped 8.6% to HK$46.12, Haidilao International decreased 12.5% to HK$14.39, and Mixue Group fell 7.3% to HK$320.20.
Zijin Mining Group advanced 1.2% to HK $35.30, Zijin Gold International advanced 2.5% to HK $184.60, and Laopu Gold Co. added 2% to HK $661.50.