While the recent market behavior may feel “volatile” due to the high degree of uncertainty, actual trading activity has been remarkably orderly considering the fact that the global economy is dealing with a virtual Middle East oil embargo combined with a potential multi-national conflict.
As a reminder, just 12 months ago, the S&P 500 fell over -15% in 3 days on just the announcement of proposed tariffs. That is outsized volatility.
March 26, 2026
While the recent market behavior may feel “volatile” due to the high degree of uncertainty, actual trading activity has been remarkably orderly considering the fact that the global economy is dealing with a virtual Middle East oil embargo combined with a potential multi-national conflict.
As a reminder, just 12 months ago, the S&P 500 fell over -15% in 3 days on just the announcement of proposed tariffs. That is outsized volatility.