By Heard Editors
What Happened in Markets Today
Iran continued attacks on its neighbors. A major refinery in Kuwait was struck by drones. Saudi Arabia, the United Arab Emirates and Bahrain continued intercepting drones and missiles. Iran's armed forces escalated their rhetoric, warning they will target the country's enemies, including officials, pilots and soldiers, in "amusement parks, resorts and tourist centers."
U.S. and allies are deploying attack jets in an effort to reopen the Strait of Hormuz. The operation is part of a multistage Pentagon plan to reduce the danger from Iranian armed boats, mines and cruise missiles. The Pentagon also said it will send three warships and thousands of additional Marines to the Middle East, the second massive deployment in the past week.
Oil prices rose. Brent crude futures settled at $112.19 a barrel, up 3.3%, marking the highest settle since July 4, 2022. U.S. benchmark WTI crude futures rose 2.3% to $98.32 a barrel. Average U.S. retail gasoline prices hit $3.91 a gallon, a 93-cent increase since the start of the Middle East conflict.
Shares of server maker Super Micro Computer plunged 33% after an unsealed indictment revealed that the company's employees helped smuggle machines with high-end Nvidia chips to China. Two of its employees were placed on leave. Nvidia's shares fell 3.2%.
Equities fell for the third day. Tech stocks fell the most, with the Nasdaq composite ending the day down 2%. The S&P 500 shed 1.5% and the Dow Jones Industrial Average lost 1%, or 444 points. All three indexes fell for a fourth straight week. The Dow and the Nasdaq were each down 2.1% this week, while the S&P 500 declined 1.9%.
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(END) Dow Jones Newswires
March 20, 2026 18:12 ET (22:12 GMT)
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