WSJ Your Money Briefing What’s News in Markets: Oil Prices Surge, Bond Selloff, and Iran Fallout
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Mar 7, 2026 Markets swing amid Middle East conflict and a big surge in oil prices. U.S. bond yields jump as investors rethink safe havens. International stocks slump after an energy-driven shock. Concerns over stagflation and a mixed jobs report add to market unease.
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Middle East Conflict Drove This Week's Market Slide
- The war in the Middle East is the dominant driver of market declines this week.
- Hannah Erin Lang links a U.S. attack on Iran and fears of a widening conflict to stocks falling and markets turning negative for the year.
Record Weekly Surge Pushed Oil Near $91
- Oil prices spiked dramatically as the Strait of Hormuz was effectively closed, sending U.S. crude to about $90.90 a barrel.
- Hannah Erin Lang notes a roughly 36% one-week surge, the largest weekly percent gain on record, and links that to higher fuel costs globally.
Higher Oil Raises Stagflation Risk
- Rising oil threatens both consumer prices and corporate profits, increasing the risk of stagflation.
- Hannah Erin Lang explains that higher energy costs can squeeze growth and complicate Fed decisions on interest rates.