U.S. equity markets fell sharply on Friday, March 27, with the Dow Jones Industrial Average dropping nearly 800 points and entering correction territory. The S&P 500 lost 1.67% to close at 6,368.85, its lowest level in seven months, while the Nasdaq Composite fell 2.15% to settle at 20,948.36. The sell-off marks the fifth consecutive week of declines as investors weigh the economic fallout from the ongoing U.S.-Iran conflict. Brent crude oil topped $112 per barrel - a 51% monthly increase - after Iran began enforcing a de facto transit toll through the Strait of Hormuz. President Donald Trump extended a deadline for Iran to reopen the strait until April 6. The 10-year Treasury yield climbed to 4.41%, its highest since July 2025. Investor sentiment remains deeply pessimistic, with AAII reporting bullishness at 32.1%.