Oppenheimer: The Risk Calculus Has Changed

2026-03-08 08:13:00 ET

Market Brief – Markets Navigate Military Conflict

It was a brutal week on Wall Street. The S&P 500 (SPX) finished at its lowest close since mid-December, logging a 2.0% loss, its largest weekly decline in nearly 5 months. It now sits 3.42% off its all-time high from January 27. The headline catalyst was unmistakably geopolitical. The U.S. and Israeli strikes on Iran over the prior weekend sent shockwaves through global markets on Monday morning. Oil markets told a more persistent story. Brent crude surged to $90 a barrel by Friday from roughly $70 before the strikes began. The potential squeeze on corporate margins and the reigniting of inflation fears weighed on outlooks....

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