economy
March 23, 2026
World Stock Markets: Middle East Increasingly Pressures Wall Street
The continuation of armed conflicts in the Middle East has further fueled fears that high crude oil prices could persist for a longer period.
TL;DR
- Middle East conflicts are increasing fears of sustained high crude oil prices.
- Stock markets have seen a fourth consecutive week of corrections, with major indices falling.
- Intensified attacks on oil and gas infrastructure in Qatar, Saudi Arabia, and Kuwait have occurred.
- Brent crude prices surged to $120 per barrel before closing the week up 9% at $112.
- The US Federal Reserve maintained interest rates and projected one rate cut by year-end, with expectations shifting towards no cuts or even a potential hike.
- US 10-year bond yields rose above 4.40%, potentially pressuring the US administration.
- Gold prices experienced a significant drop, falling nearly 10% in a week and 13% since the conflict began.
- Arm Holding (ARM) stock surged over 14% due to AI potential and expansion in high-performance server processors.
- Super Micro Computer (SMCI) stock dropped over 33% following an investigation into illegal chip shipments to China.