Your Evening Briefing

March 26, 2026

Markets sell off as Mideast conflict shows no sign of ending

All three major US indexes fell on Thursday with the Nasdaq composite officially falling into a correction as the markets reacted to waves of news from the conflict in the Middle East that raised doubts that a ceasefire would happen. The selloff accelerated following a cabinet meeting in which President Trump said that Iran needed to make a deal or the US would “just keep blowing them away” and news that Iran saw the US’ exit proposal as “one-sided and unfair.”

Thursday was the worst day for stocks since the start of the war with Iran. The S&P 500 dropped 1.7% and the Nasdaq 100 fell 2.4%.

All sectors ended the day in the red except Energy, with US oil futures rising above $94.

Stocks moving higher:

Energy stocks outperformed, with refiners and marketers like Valero and Phillips 66 expected to benefit from higher oil prices.
Natural gas producers APA Corporation, EOG Resources, and Diamondback Energy also posted healthy gains.
Ethanol-exposed companies Rex American Resources and Green Plains climbed following the Trump administration’s move yesterday to waive summertime limitations on the sale of E15 gas.
As the DHS shutdown drags on, resulting in some excruciating airport wait times, rental car companies Avis and Hertz are getting a boost.
Mortgage firm Better Home & Finance surged on the launch of a new product allowing crypto-backed mortgages through Fannie Mae.

Stocks moving lower:

Super Micro Computer sank on news that shareholders are suing the company, alleging securities fraud around China chip smuggling.
Meta and Google fell following Wednesday’s landmark decision that found the two tech giants liable in a social media addiction case.
Memory stocks like Sandisk, Seagate Technology Holdings, and Western Digital fell for a second straight day after Google announced details of a new algorithm called TurboQuant that could lower the amount of memory needed for AI operations.
Optics stocks including Ciena Corp. and Corning dove.
Construction and engineering companies that have been feasting on the data center boom, like Quanta Services, Comfort Systems USA, and Emcor, also fell.

How record wait times at US airports are sending one app soaring

Demand for Clear Secure services are surging as travelers look to bypass TSA lines. Read more.

The peptide gold rush: How impending deregulation could supercharge a shadow industry

Peptides, the gray-market supplements that have flooded Silicon Valley, may soon make their way into the mainstream. Who stands to benefit?

Read more.

According to the American Automobile Association, the national average price for a gallon of regular gas is up $0.10 from the previous week and up $1 since last month. AAA reports that there was a steep rise from $2.98 on February 26 to $3.98 as of March 26. Read more.

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