Finance

Oil prices continued their upward trajectory as the conflict with Iran entered its fifth week, with Brent crude surging past $112 per barrel. Market anxiety was heightened by Iran's move to turn back container vessels in the Strait of Hormuz, a critical maritime passage that handles roughly 20% of global oil supply.

The yield on the 10-year Treasury note rose to 4.44% on March 27, its highest level since July 2025, as investors adjusted to persistent inflationary pressures driven by the war. Although yields pulled back slightly from session highs of 4.48%, the overall trend reflects a significant four-week gain that is beginning to impact broader borrowing costs for households and businesses.

Shares of the AI chip leader Nvidia fell 2.13% to finish at $167.59 on Friday, reflecting a broader struggle for mega-cap tech stocks. For the first time in years, the company's valuation fell below the S&P 500's forward price-to-earnings ratio as investors balanced long-term AI demand against immediate geopolitical supply-chain risks.

Cryptocurrency markets experienced downward pressure with Bitcoin sliding below $67,000, its lowest level since mid-March. The decline was fueled by over $300 million in long liquidations and a massive $14 billion quarterly options expiry on the Deribit exchange, occurring alongside a general retreat from risk assets in the traditional equity markets.

A new University of Michigan survey released on Friday showed a 6% drop in U.S. consumer sentiment, reaching its lowest point since December 2025. The decline was widespread across all demographics as Americans grapple with the economic fallout of the Iran conflict and rising gasoline prices, which have climbed to a national average of approximately $4 a gallon.