- Oil went vertical on Iran war fears. After US and Israeli strikes on Iran, crude spiked, with US oil ending the week around 90.90 dollars and Brent 92.69 dollars, marking the biggest weekly gain on record and a roughly 36% jump in just one week. Earlier in the week, oil had already surged 7–9% on headlines about disrupted traffic through the Strait of Hormuz.
- Stocks sold off into the weekend. The S&P 500 fell from 6,878.88 at the prior Friday’s close (Feb 27) to about 6,769.03 by March 6, a drop of roughly 1.6% for the week. On Friday alone, the Dow dropped 453 points (~0.9%), the S&P 500 fell 1.3%, and the Nasdaq slid 1.6%.
- A surprisingly weak US jobs report rattled investors.
This week, markets were hit by a rare combo of an oil price shock, a weak US jobs report, and renewed questions around AI spending.
US stocks swung violently and ultimately finished the week lower, even as AI heavyweight Broadcom delivered standout earnings.
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