Finance

Brent crude oil prices surged toward $120 per barrel, marking a nearly 60% increase for the month of March, the largest monthly gain since 1990. The spike is driven by a near-total blockade of the Strait of Hormuz amid the escalating conflict with Iran, which has removed an estimated 11 million barrels per day from global supply.

The yield on the 10-year Treasury note fell to approximately 4.37% on Monday, easing from an eight-month high of 4.48% reached late last week. This decline reflects a 'flight to quality' as market participants begin to prioritize fears of a potential economic slowdown and recession over immediate inflationary pressures caused by energy costs.

While broader markets stabilized, the tech sector remains under pressure from a 'death cross' in technical moving averages and a sector-specific shock following Google's release of its TurboQuant algorithm. The new AI efficiency tool triggered a sharp sell-off in memory chip manufacturers, with Micron and SanDisk seeing double-digit percentage drops over the past week.

Cryptocurrency markets showed modest gains on Monday, with Bitcoin trading around $67,800 after a volatile month characterized by landmark U.S. legislation shifting spot market jurisdiction to the CFTC. Despite the daily uptick, the asset remains down roughly 4% for March as investors balance a more favorable regulatory environment against hawkish Federal Reserve signals and geopolitical uncertainty.

Economic data released leading into the final week of March showed the University of Michigan Consumer Sentiment index falling to 53.3, significantly missing analyst expectations. This deterioration in consumer outlook, combined with persistent inflation and high energy costs, has led money markets to reduce the probability of further Federal Reserve rate hikes in 2026.