By Heather Gillers
Markets got a one-two punch Friday beginning the day with fears of higher-for-longer rates and ending with concerns about a drawn out Iran war.
Trading volumes hit a 2026 high as share prices slumped, with the Dow Jones Industrial Average falling 444 points and notching its lowest closing value since October.
"It was not good across the board," said Rob Haworth, senior investment strategist US Bank Asset Management. "Utilities was one of the worst performing sectors. Industrials, materials, everything else, you weren't even really getting help from defensives" like consumer staples and healthcare, he added.
Treasury yields had their largest one-day gain in about a year, since President Trump's tariff broadside, as hopes of rate cuts faded with rising oil prices. That made gold and dividend-paying utility stocks look less appealing in comparison, Haworth said. News of stepped-up attacks in the Strait of Hormuz meanwhile dashed investors' hopes of a near end to the hostilities in Iran and a return to pre-war oil prices.
"Risk sentiment is definitely worsening," said David Krakauer, vice president of portfolio management at Mercer Advisors.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
March 20, 2026 17:49 ET (21:49 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.

