Market Minute ⏱️ 3/10/26: Meltdown, Rebound...Then What?

Mike Larson | Editor-in-Chief

Markets melted down Sunday night, then rebounded strongly Monday afternoon. So far this morning, stocks are waffling, while gold and silver are gaining. Crude oil is retreating further, the dollar is dropping, and Treasuries remain under pressure.

It was a wild start to the trading week yesterday, with a broad-based selloff replaced by a broad-based rally fueled by two catalysts. First, officials from the Group of Seven nations said they would meet to discuss releasing strategic oil reserves. That would partially offset the reduction in oil supply caused by the effective blockade of the Strait of Hormuz. Second, President Trump said the war would be over “very soon” (though he also said the US would “go further” than it already has).

Oil Takes Traders on a Wild Ride

In the end, investors were left with a relief rally – but also lingering concern that the conflict will continue. WTI futures were recently trading around $89 a barrel. That’s down from Sunday’s peak of $117, but up substantially from $64 a month ago. Volatility is also sharply higher than in the pre-war days. Futures just swung $38 from high to low, the biggest intraday range since the pandemic struck in 2020.

Meanwhile, the push to bring tokenized stocks and ETFs to US traders is gaining momentum. Major exchanges like the Nasdaq and NYSE are seeking SEC approval to issue digital versions of shares that would be traded on blockchains. That would give domestic investors access to tokenized shares, which foreign investors can already trade. It would also likely usher in 24/7 trading of equities.

Norton: What Past Conflicts Can Teach Us About the MARKET Impact of this One

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• Will Crude Oil Calamity Bring About a Bear Market?
  👉️ TICKERS: USO, SPX
  The week-long hostilities pitting the US and Israel against Iran have been the primary focus of markets. No one knows if the current crisis will result in a pullback, correction, or bear market. But should a new bear market emerge, there is typically no place to hide from an equity perspective, cautions Sam Stovall, chief investment strategist at CFRA Research.

• Utilities: Benefiting from AI-Fueled Growth and Fresh Money Flows
  👉️ TICKER: XLU
  More than three times as many of the utility companies I follow raised and/or beat management guidance when they released Q4 results, as cut or missed. Even more electric, gas, water, and communications utilities expanded their investment plans — the primary fuel for reliable earnings and dividend growth, observes Roger Conrad, editor of Conrad’s Utility Investor.

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📦❓The $200 Billion Question: Is Amazon Finally Ready to Pay a Dividend? (Barchart)

🛢️🎢 President Trump hijacked oil markets with social media diplomacy. Monday saw the most volatile swings in crude prices on record. (Opening Bell Daily)