Market Wrap US Stock Market Summary — March 13, 2026
Today at a Glance
Market Summary
US stocks on March 13 remained under pressure from geopolitical uncertainty surrounding the Hormuz Strait as the Iran conflict entered its third week. The three major indexes all closed lower: the Dow at 46,558.47 (-0.26%), the S&P 500 at 6,632.19 (-0.61%) and the Nasdaq at 22,105.36 (-0.93%). The VIX held at an elevated 27.19, and the Fear & Greed Index remained in Extreme Fear territory at 20. A report that UAE oil production had been cut to nearly half its normal level due to a Hormuz blockade (Bloomberg) pushed Brent crude above $100 per barrel, spreading supply-shock concerns across the broader market. Goldman Sachs warned the S&P 500 could decline to 5,400 if a severe oil shock materializes (Reuters). Meanwhile, the view was raised that the surge in oil prices would make it harder for the Fed to cut rates (Yahoo Finance).
Sector & Asset Trends
Supply disruptions tied to the Iran conflict drove a sharp rally in the energy space, making Energy (XLE +0.33%, RSI 70.2) the only sector posting a meaningful gain. Major oil companies such as $XOM (+1.69%) and $TTE (+1.63%) led the advance, while the crude-oil ETF $USO entered extreme overbought territory with an RSI of 85.9. Shell projected continued growth in LNG demand despite the volatility from the Iran war (Bloomberg).
By contrast, Financials (XLF RSI 29.38) and Consumer Discretionary (XLY RSI 29.58) approached oversold territory and stood out for weakness. Healthcare ($XLV RSI 33.26) and Industrials ($XLI RSI 34.54) also lagged. Consumer Staples ($XLP +0.58%) edged higher on defensive buying.
In commodities, silver (SLV -4.97%) plunged on unstable selling flows from leveraged ETFs (Bloomberg), while platinum (PPLT -5.18%) and copper ($CPER -2.11%) also declined. Among agricultural products, wheat (WEAT +2.23%) rose on supply-chain concerns, and soybeans (SOYB RSI 74.93) and corn (CORN RSI 70.88) entered overbought territory. The bond market struggled to find a direction between the oil shock and growth-slowdown worries (Bloomberg), with long-duration Treasuries ($TLT -0.49%) posting a modest decline.
Key Stock Moves
Among top gainers, $MU (Micron, +5.13%) posted the highest advance within the top 100 by market cap. Paradoxically, reports that the Iran war could disrupt the global semiconductor supply chain (Bloomberg) appear to have fueled expectations of higher memory-chip prices. $BA (Boeing, +2.51%) rose on expected defense benefits, while $APP (AppLovin, +2.08%) and $SCHW (Charles Schwab, +1.99%) also bounced. Energy names $XOM (+1.69%) and $TTE (+1.63%) rode the crude rally higher.
Among the biggest decliners, $SCCO (Southern Copper, -5.40%) logged the steepest drop alongside falling copper prices. $HSBC (-4.83%) was dragged down by a broader sell-off in global financials amid escalating geopolitical risks. $AVGO (Broadcom, -4.11%) declined amid semiconductor supply-chain concerns, and $META (Meta, -3.83%) plunged on reports of planned layoffs of 20% or more (Reuters). Tech and industrial names such as $CRM (Salesforce, -3.24%) and $GEV (GE Vernova, -3.26%) also weakened.
Technical Signals & Outlook
The number of stocks with oversold RSIs reached 30, with financials (15) accounting for half, suggesting accumulating potential for a technical rebound in the financial sector. By contrast, most of the overbought RSI and overbought stochastic readings are concentrated in energy names (21 and 20, respectively), highlighting clear short-term overheating in the energy sector. Stocks breaching the lower Bollinger Band also numbered 30, spanning sectors including healthcare, industrials and financials, reflecting broad-based selling pressure in the Extreme Fear regime.
Progress in negotiations to reopen traffic through the Hormuz Strait is the key variable for the near-term market direction. If oil prices stabilize, technical rebounds are likely to emerge in oversold large-cap names across financials, consumer discretionary and healthcare; however, if the conflict drags on, additional downside pressure across all sectors except energy appears unavoidable. For a more detailed technical-signal analysis, please refer to the Daily Technical Signals Report.
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