Market Report, 2026-03-12

Another day of the largest oil supply disruption in history drags on, and most assets posted meaningful losses by the end of the day. The conflict in the Middle East continues, and reports emerged that oil tankers had been hit. The market remains concerned about the uncertainty surrounding the duration of the conflict, as there are now meaningful inflation risks. Despite measures taken to provide the market with additional oil supplies, oil prices remained elevated, with Brent crude briefly topping $100 per barrel.

All major global stock indices fell today. The Dow Jones Industrial Average declined 739 points to 46,678. The Nasdaq dipped 1.73% to 24,534. The S&P 500 retreated 1.52% to 6,673. It continues to be a strong day for energy stocks as oil prices remain elevated. In addition, utility stocks, which are widely considered safe-haven assets, posted meaningful gains. All other sectors posted losses, led by industrials, consumer discretionary, and technology.

The bond market continued to reflect inflation concerns. The U.S. 5-year Treasury yield rose 9 basis points to 3.87%, and the 10-year yield rose 6 basis points to 4.27%. Gold lost nearly 2% of its value, falling below the 5,100 mark as yields and the dollar climbed.

Economic data did provide some good news. Jobless claims remained stable last week, more housing projects were started than expected in February, and the number of building permits issued only slightly missed expectations in February. The U.S. trade deficit also shrank more than expected in January.

Tomorrow, we will receive the most important inflation gauge available, along with several other economic indicators. We will continue to bring you the most relevant market information. This is Adams Wealth Advisors.