Major US stock indices fell sharply on March 27, with the Dow Jones Industrial Average dropping 793 points (-1.73%) to 45,166.64, officially entering correction territory. The S&P 500 declined 1.67% to 6,368.85, marking its fifth consecutive weekly decline - the longest losing streak since 2022. The Nasdaq Composite fell 2.15% to 20,948.36, also in correction territory. The sell-off has been driven by the ongoing Iran conflict, now in its fifth week. The Strait of Hormuz remains disrupted, affecting approximately 7.5% of global oil supply. Brent crude surged to $112.57 per barrel, while WTI crossed $99. The Magnificent 7 tech stocks shed approximately $870 billion in market cap for the week, with Microsoft down 24% in Q1 2026 - its worst quarterly performance since 2008.