Dow Rises as S&P 500, Nasdaq Hit 8-Month Lows
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- The Dow edged up on March 30, 2026, while the S&P 500 and Nasdaq closed at their lowest levels in eight months amid rising oil prices and sliding Treasury yields following Powell's comments.
- The S&P 500 could face a 'trap door' from a major options trade expiration next week, per MarketWatch, on top of the index already sitting at its lowest level in eight months.
- The Iran war entered its 31st day on Monday, driving oil prices higher and leaving investors with 'nowhere to hide' as financial markets absorbed the prolonged conflict, according to MarketWatch.
- Oil prices rose as fears of a prolonged supply shock grew, with the Iran war lurching into its second month according to MarketWatch's coverage.
- Treasury yields slid after Powell's comments on March 30, offering a rare pocket of relief in a market broadly under pressure from the month-long war.
Why it matters: With the Iran war in its 31st day, broad US equity indices have fallen to eight-month lows while the Dow and Treasury market diverged — investors rotating into government debt pushed yields down after Powell's remarks, signaling no expectation of a quick end to the oil supply shock driving the selloff.
