Stocks Plunged In March, But Hope Emerges In The U.S.-Iran War
Stocks suffered their largest monthly loss since September 2022 due to the Iran war and a surge in oil prices. Despite macro risks, S&P 500 EPS estimates for 2026 and 2027 are rising, and April seasonality offers potential upside.
The S&P 500 ETF fell over 5% in March, its largest monthly loss since September 2022. This decline was driven by the war in Iran and a 53% surge in oil prices. Energy outperformed, while defensive and growth sectors faltered. Tech giants like Nvidia, Meta Platforms, and Microsoft now trade at discounted P/E ratios. The US labor market weakness and looming CPI uptick raise macro risks. However, Fed rate hike fears eased after Powell's remarks, offering potential upside despite geopolitical uncertainty.
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