Finance

Market volatility remained elevated after President Trump extended a deadline for potential strikes on Iranian energy infrastructure to April 6. The move failed to soothe investor anxiety, as the Cboe Volatility Index (VIX) surged toward 30 while traders weighed the risk of a prolonged conflict in the Middle East.

The yield on the 10-year U.S. Treasury note rose as high as 4.48% on Friday, reflecting persistent concerns about inflation driven by high energy costs. Bond markets have seen sustained selling pressure as investors price in the possibility of tighter monetary policy despite earlier hopes for interest rate cuts in 2026.

The energy sector stood out as a defensive pillar, gaining over 1% on Friday while broader markets slumped. Brent crude futures traded above $110 per barrel due to supply concerns in the Strait of Hormuz, driving year-to-date returns for the energy sector to over 35%.

Digital assets experienced a modest sell-off on March 27, with Bitcoin falling toward $68,000 and Ethereum sliding nearly 5%. The decline coincided with a massive $13.5 billion to $14 billion quarterly options expiry, which acted as a source of volatility and encouraged traders to square positions amid broader risk-off sentiment.

Sectors sensitive to consumer spending saw sharp declines on Friday as rising gasoline prices threatened to curb discretionary income. Notable laggards included Norwegian Cruise Line, Airbnb, and Lululemon, while Netflix managed a slight gain following news of a domestic service price increase.