Wall Street faced a wave of intense selling pressure on Thursday, March 5, 2026, as escalating conflict in the Middle East sent shockwaves through global energy markets. The Dow Jones<\/a> Industrial Average (DJI<\/a>) bore the brunt of the decline, plunging 784.67 points, or 1.6%, to finish at 47,954.74. At its session lows, the blue-chip index had plummeted more than 1,100 points before a late-day recovery attempt pared some losses.<\/p>\n The broader S&P 500<\/a> (SPX<\/a>) dropped 38.79 points, or 0.6%, to close at 6,830.71, while the tech-heavy Nasdaq Composite (IXIC<\/a>) showed more resilience but still slipped 58.50 points, or 0.3%, to end at 22,748.99. Small-cap stocks were hit even harder, with the Russell 2000 (RUT<\/a>) index sliding 1.9% as investors fled from riskier assets.<\/p>\n The primary catalyst for the downturn was a dramatic spike in oil prices. Brent crude surged over 4% to nearly $85 per barrel, its highest level since the summer of 2024, following reports of intensified hostilities involving Iran. The closure of the Strait of Hormuz and attacks on shipping vessels have raised dire concerns about a prolonged disruption to global energy supplies, threatening to reignite the inflation that the Federal Reserve has been fighting to cool.<\/p>\n Despite the broad market gloom, Broadcom (AVGO<\/a>) emerged as a rare bright spot. The chipmaker\u2019s stock climbed 4.8% after reporting quarterly results that exceeded analyst expectations. CEO Hock Tan highlighted a 74% year-over-year jump in revenue from AI-related chips, reinforcing the narrative that artificial intelligence remains a powerful secular growth driver even amidst macroeconomic instability.<\/p>\n Conversely, the airline sector was decimated by the prospect of surging fuel costs. American Airlines (AAL<\/a>) fell 5.4% following a brokerage downgrade that cited extreme jet fuel risk. Peers United Airlines (UAL<\/a>) and Delta Air Lines (DAL<\/a>) followed suit, dropping 5.0% and 4.0%, respectively. Industrial heavyweights also struggled, with Caterpillar (CAT<\/a>) falling 3.6% and GE Aerospace (GE<\/a>) losing 3.4% on fears of supply chain bottlenecks.<\/p>\n Financial institutions were not spared, as the volatile yield environment weighed on margins. Goldman Sachs (GS<\/a>) retreated 3.7%, and Morgan Stanley (MS<\/a>) fell 3.0%. In the retail space, Kroger (KR<\/a>) and BJ's Wholesale Club (BJ<\/a>) reported earnings before the bell; while their results were relatively stable, the cautious consumer outlook overshadowed their performance.<\/p>\n The focus shifted to the semiconductor and building sectors after the closing bell. Marvell Technology (MRVL<\/a>) released its highly anticipated fourth-quarter results, which are being closely scrutinized for further signs of AI-driven demand. Other notable after-hours reporters included Quanex Building Products (NX<\/a>) and Solid Biosciences (SLDB<\/a>).<\/p>\n Looking ahead, all eyes are on Friday\u2019s February non-farm payrolls report. Economists are expecting a modest increase of approximately 75,000 jobs. A stronger-than-expected reading could complicate the Federal Reserve's path, as the central bank balances a cooling labor market against the new inflationary threat posed by rising energy costs. Currently, the Fed funds rate sits between 3.50% and 3.75%, and today\u2019s market action suggests investors are increasingly skeptical of a rate cut in the near term. Treasury yields climbed in response to the oil spike, with the 10-year yield rising to 4.13%, further pressuring equity valuations.<\/p>\n","protected":false},"excerpt":{"rendered":" Market Recap: Geopolitical Tensions Trigger Sharp Sell-Off Wall Street faced a wave of intense selling pressure on Thursday, March 5, 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News and Sector Performance<\/h2>\n
After-Hours Earnings and Upcoming Events<\/h2>\n