Stocks Slide as Iran Tanker Attack Sends Oil Past $80
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- Dow, S&P 500, and Nasdaq all fell on March 5, 2026, with the Dow turning negative for the year after a session defined by Iran-conflict fears, rising oil, and higher U.S. bond yields
- U.S. oil prices topped $80 after Iran reportedly attacked a tanker in the Persian Gulf, the trigger the market blamed for the broad selloff
- Broadcom gained after reporting earnings, standing out as a bright spot on a day when chip stocks broadly declined and the market was too risk-averse to celebrate the results
- Trump has a plan to open the Strait of Hormuz, but the MarketWatch read flags significant obstacles to executing it
- Investors were simultaneously contending with three distinct pressure points — Iran escalation, oil's jump past $80, and rising U.S. bond yields — a rare convergence that overrode any company-level good news
Why it matters: The Dow slipping negative for the year is a symbolic threshold, and oil crossing $80 on a reported Iran tanker attack directly raises the inflation and energy-cost stakes for consumers and businesses. The fact that a strong Broadcom earnings report couldn't offset the selloff shows geopolitics, not fundamentals, is driving the tape right now — and Trump's plan to reopen the Strait of Hormuz, even if realized, would take time to ease the supply premium.
