CNBC's "Fast Money" Stocks Drop As Iran Conflict Lingers On… And Latest Punch To Private Credit 3/12/26
Mar 12, 2026
On-scene reporters Eamon Javers, Pippa Stevens, Kate Rooney, Leslie Picker and Brandon Gomez bring live market dispatches and field reporting. They cover oil spiking past $100 and threats to the Strait of Hormuz. They discuss fuel and fertilizer supply risks, private credit stress and gated funds, and how big tech earnings and pharma alerts are moving stocks.
AI Snips
Chapters
Transcript
Episode notes
Markets Reprice Energy Risk After Hormuz Threat
- Iran's threat to keep the Strait of Hormuz closed pushed Brent above $100 and forced a market repricing of energy risk.
- Traders noted lowest S&P closes of 2026, rising VIX, and rotation into energy with XLE at all-time highs.
Middle Of Barrel Fuels Drive Inflation Risk
- Diesel and jet fuel shortages matter more than gasoline because a third of petroleum products flow through Hormuz, tightening middle-of-the-barrel markets.
- U.S. diesel crack spreads topped $70 and European gas oil surged, pressuring refiners and global runs.
Stagflation Fear Emerges As Cuts Fade
- Markets are starting to price a stagflation risk as yields rise and cuts get pushed out of the curve.
- Two-year yields climbed near 3.75% and investors no longer expect Fed cuts this year.