U.S. stocks closed sharply lower on Friday as escalating geopolitical tensions in Iran and mounting inflation concerns sent investors rushing for the exits. Crude oil prices topped $110 a barrel, amplifying worries that persistently high energy costs—compounded by ongoing tariff pressures—could slow economic growth while keeping prices elevated. The sell-off capped a bruising week for equities, with the S&P 500 notching its fifth consecutive weekly decline, the longest such streak since 2022.
The Dow Jones Industrial Average fell 793.47 points, or 1.73%, to close at 45,166.64. The S&P 500 (SPI:SP500) shed 108.31 points, or 1.67%, ending the session at 6,368.85—a seven-month low. The tech-heavy Nasdaq Composite bore the brunt of the selling, dropping 459.72 points, or 2.15%, to finish at 20,948.36. For the week, the S&P 500 lost roughly 2.1%, the Nasdaq slid 3.2%, and the Dow retreated about 0.9%. The CBOE Volatility Index (VIX) surged nearly 15% to 31.46, its highest reading in months, reflecting deepening investor anxiety.
Notable Movers
Burford Capital (BUR) collapsed more than 40% after a U.S. appeals court reversed the company’s landmark $16.1 billion judgment against Argentina. The ruling wiped out the cornerstone of Burford’s valuation thesis and triggered a wave of panicked selling in one of the session’s most dramatic single-stock moves.
Nvidia (NVDA) extended its 2026 slide, falling sharply as investors continued rotating out of high-growth semiconductor names amid rising Treasury yields. The chipmaker has now lost more than 10% on the year, a stark reversal from the AI-fueled rally that defined 2024 and 2025. Fellow mega-caps Microsoft (MSFT) and Alphabet (GOOGL) also posted meaningful declines.
AmpliTech Group (AMPG) tumbled roughly 33%, dragging the broader manufacturing sector down about 4.5% on the day. LightPath Technologies (LPTH) fell nearly 15% alongside the group weakness.
On the upside, Sonida Senior Living (SNDA) bucked the trend after RBC Capital Markets initiated coverage with an outperform rating and a $39 price target, implying about 24% upside from current levels.
Looking Ahead
Investors head into next week with plenty to digest. The Iran conflict remains the dominant wildcard, with any escalation or de-escalation likely to move oil prices and, by extension, inflation expectations. The Federal Reserve held rates steady at 3.50%–3.75% at its March meeting, and traders will be watching upcoming economic data closely for signs that stagflation risks are growing. Looking further out, the mid-April bank earnings season looms large—JPMorgan and Goldman Sachs are expected to provide critical color on M&A deal pipelines, which could set the tone for the broader market heading into the second quarter.