Markets In Focus: The Week That Was and What’s On Tap Week-Ending 3/27/2026
THE WEEK THAT WAS
US equities posted modest declines for the week ending March 27, 2026, with the S&P 500 down 2.1%, the Nasdaq Composite falling 3.2%, the Russell 2000 easing 1.8%, and the Invesco S&P 500 Equal Weight ETF (RSP) declining a more contained 1.1%. This dispersion underscored ongoing pressure on large-cap growth names relative to the broader market. The Nasdaq Composite has hit correction territory for the year amid major weakness across information technology. The AI trade has continued to slip, as a group, as investors have shifted from pricing in explosive potential to demanding clearer proof of sustained returns amid concerns over disruption risks and valuation fatigue.
A fairly light earnings and economic calendar left the market attuned primarily to geopolitical developments. The Iran conflict dominated sentiment, driving volatility in oil prices while stoking worries over short-term inflation pressures and the potential for economic slowing. Compounding the unease was the Senate deadlock on DHS funding—particularly affecting TSA staffing—which triggered widespread airport delays during peak Spring Break season. The 10-year Treasury yield climbed above 4.4%, exerting further pressure on equity markets.
Sector performance reflected these dynamics. Energy stood out as a clear winner on elevated oil prices, while defensive areas such as consumer staples and utilities demonstrated relative resilience. Information technology and other growthoriented sectors bore the brunt of selling, aligning with the Nasdaq’s underperformance.
Looking ahead, next week should see a return to a more typical data flow that will help refine the outlook for inflation and growth.
THE WEEK AHEAD
Will March go out like a lion or a lamb? As the US equity markets enter the final trading days of both March and the first quarter of 2026, attention turns to a light but meaningful calendar of macro releases and persistent geopolitical tensions that could influence near-term sentiment.
Early in the week, investors will assess February JOLTS job openings data alongside February retail sales figures, providing updates on labor demand and consumer spending trends. These precede Friday’s March employment report, where nonfarm payrolls are anticipated to rebound from February’s unexpected -92k decline; consensus estimates center around a modest gain near 50k-125k, with the unemployment rate likely edging toward 4.5%.
Corporate activity remains sparse as we approach quarter-end, limited primarily to Nike (NKE) reporting fiscal thirdquarter results on Tuesday after the close, with McKesson (MCK) also in focus. Broader first-quarter earnings season will begin ramping up meaningfully in the coming weeks.
Overriding these domestic developments is the ongoing conflict involving Iran, which has driven significant volatility in oil markets. Investors have grown weary of attempts by the Trump administration to quell short-term concerns and are looking for concrete evidence of a resolution. We will see what the weekend will bring, if anything, in that regard. Absent that, we will likely see further selling pressure/volatility in to next week.
March came in like a lion this year—roaring with geopolitical shocks, AI anxiety, and oil-spiked volatility. And with just days left, it looks set to go out the same way: still clawing, not purring. Forget the lamb; this month’s trading like a fullgrown predator.
DISCLOSURES
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The S&P 500 generally represents performance of 500 large companies listed on exchanges in the U. S. It is one of the most commonly followed equity indices. The Nasdaq Composite Index is a market-weighted index that measures the performance of more than 3,000 common equities listed on the Nasdaq Composite Market. The Russell 2,000 Index is a market-cap weighted index that measures the performance of approximately 2,000 of the smallest companies in the Russell 3,000 Index. The MSCI ACWI captures Large and Mid-Cap representation across 23 Developed Markets (DM) and 24 Emerging Markets (EM) countries. With 2,921 constituents, the index covers approximately 85% of the global investable equity opportunity set. FactSet Research System is a financial data and software company that provides research for Wall Street professionals and individual investors.
