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.