CNBC Business News Update US Strikes Iran, Stock Markets and Energy Markets Brace For Impact 2/28/26
Feb 27, 2026
A concise market wrap covering a mixed February for the major averages and a sharp Friday sell-off. Discussion of standout winners hitting record highs even as analysts downgrade U.S. prospects and the dollar slips. Concerns about private credit health after sour loans and dividend cuts. Rising wholesale inflation and a crude oil surge that is pushing jet fuel and airline pain. Preview of retail earnings and a big tech event.
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Mixed February For Major Averages
- The major averages had a mixed February with the Dow barely finishing in the green while the S&P 500 and Nasdaq posted their worst month since March last year.
- Jessica Ettinger notes the Dow's unusual 10-month winning streak despite broader market weakness, highlighting divergence among indexes.
Friday Market Selloff Led By American Express
- Stocks dropped sharply on Friday with the Dow down 521 points driven by a nearly 8% plunge in American Express shares.
- The S&P fell 29 points and the Nasdaq lost 210 points, marking a rough end to the week.
UBS Downgrades US Market Citing Fading Advantages
- UBS downgraded the entire U.S. stock market, saying drivers of U.S. outperformance like dollar strength are fading.
- A weaker U.S. dollar and stronger foreign markets this year underpin UBS's more cautious stance.