Stock Market Update for March 13: Equities Decline Amid Surging Oil Prices and Ongoing Iran Conflict

Major Indexes Decline Amid Rising Oil Prices

The S&P 500 dropped by 0.61% to close at 6,632.19. The Nasdaq Composite fell 0.93% to 22,105.36, while the Dow Jones Industrial Average slipped 0.26% to 46,558.47. These losses came as surging oil prices weighed heavily on the stock market.

Key Market Highlights

• Energy stocks and other defensive sectors outperformed, while cyclical shares lagged behind.
• Ollie’s Bargain Outlet saw gains after reporting its fourth-quarter results.
• Micron Technology rose on upbeat analyst commentary ahead of its upcoming earnings release.
• Meta Platforms faced pressure due to delays in its Avocado AI rollout, now postponed until May.
• Adobe shares tumbled 7.58% to $249.32 after the company announced CEO Shantanu Narayen’s departure during its earnings report.

Implications for Investors

The S&P 500 has now recorded losses for three consecutive weeks. Oil prices are nearing $100 per barrel, driven by ongoing disruptions in the Strait of Hormuz. Elevated energy costs are impacting banks, materials, and consumer cyclical sectors. With the conflict in Iran entering its second week, market participants are bracing for continued volatility.

The Federal Reserve is not expected to lower interest rates at its meeting next week. According to the Bureau of Labor Statistics, job openings increased in January, and consumer spending edged higher at the start of the year. However, much of this data predates the recent escalation in the Middle East, offering only a partial view of current conditions.

Recent figures indicate that consumer sentiment has dropped to its lowest point in three months, reflecting growing unease about rising energy and gasoline prices. For investors, maintaining a long-term perspective can help navigate the current climate of uncertainty and market swings.

Is Now the Time to Invest in the S&P 500 Index?

Before making a decision to buy S&P 500 Index shares, consider this:

*Stock Advisor returns as of March 13, 2026.