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Informist, Monday, Mar. 23, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end down Friday as hostilities in West Asia continue

 

MUMBAI--0722 IST--Major US stock indices closed in the red on Friday as tensions mount in the US-Iran war. Over the weekend, both countries traded threats as the conflict in West Asia enters its fourth week. Futures of major US indices were nearly flat on Sunday, while oil prices continued their climb with the May futures of Brent Crude oil touching $112 per barrel.

 

Over the weekend, US President Donald Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz or risk an attack on Iranian power plants, CNBC reported. The Strait of Hormuz is a key shipping route and controls 20% of global oil shipping. The trade route has been shut since the beginning of the conflict in West Asia, leading to a surge in crude oil prices. At 0722 IST, May futures of Brent Crude oil were at 111.90 per barrel, up nearly 54% since before the US and Israel attacked Iran. In response to Trump's threats, Iran said it would attack US energy and desalination facilities among others in the Gulf, if its power infrastructure was attacked, CNBC reported.

 

"The risk-off sentiment could worsen substantially this week, with the first visible macro effects in a deluge of global PMI (purchasing managers index) data. Portfolio de-risking could continue, making cash a viable asset again," Ben Emons, chief investment officer and founder of Fed Watch Advisors, told CNBC.

 

Market participants will keep an eye on the US flash purchasing managers index, due Tuesday. They will also watch out for support levels of major indices, as the S&P 500 last week breached below its 200-day moving average for the first time since May 2025, according to CNBC.

 

Following are the closing levels of US indices Friday:

 

Index	Level	Change in %
S&P 500	6506.48	(-)1.51
NASDAQ Composite	21647.61	(-)2.01
Dow Jones Industrial Average	45577.47	(-)0.96

 

(Shruti Nair)

 

US$1 = INR 93.71

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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