Maria Aspin
👤 SpeakerAppearances Over Time
Podcast Appearances
Some investors are calling it a Hormuz hope rally after the crucial waterway that handles a fifth of global oil.
The war has sparked a global energy crisis.
sending gas prices soaring and raising investor fears about wider inflation.
stocks are still down since the start of the war, but investors are starting April with more optimism.
Tech stocks in particular have been under pressure, and the tech-heavy Nasdaq has been leading this week's rebound.
But the prospect of peace in the Middle East didn't reassure all investors.
Shares in ExxonMobil, Chevron, and other energy companies sold off, as most of Wall Street hopes for lower oil prices.
It was Wall Street's best day since last May, and it ended March on an unexpected high note for investors.
They've spent the month worried about how badly the war and its shock to oil prices will damage the wider economy.
Regular gas now costs, on average, more than $4 per gallon.
And everything else could soon be more expensive, too.
Tech investors have been particularly rattled.
And they ended the month with a slight reprieve, as shares of Meta, Alphabet, and other big tech companies soared.
But even after the one-day rally, U.S.
stocks ended the month in the red.
The Dow broke a 10-month winning streak.
And the benchmark S&P 500 had its worst month since 2022.