03.03.202614:34:44UTC+00US Stocks Fall to Multi-Month Lows

US equities fell sharply on Tuesday as the absence of any clear signs of de‑escalation in the war involving Iran darkened the global economic outlook. The S&P 500 declined 1.5%, trading near a three‑month low, while both the Dow and the Nasdaq 100 lost 1.7%, hitting four‑month lows.

The conflict between Iran and US allies in the Middle East entered a fourth day, with strikes on energy infrastructure in the Persian Gulf and a formal warning from Iran that it would target any vessels transiting the Strait of Hormuz. Benchmark prices for oil and natural gas surged, pushing Treasury yields sharply higher across the curve and weighing on all credit‑sensitive sectors.

Mega-cap technology names were broadly weaker: Nvidia, Amazon, Apple, and Alphabet each fell between 1% and 2%. In credit markets, sentiment deteriorated further after Blackstone dropped 8% amid a spike in redemptions from its flagship private credit fund, compounding worries that began when Blue Owl suspended withdrawals. By contrast, Target advanced after issuing upbeat forward guidance.