Q1 2026 was centered on the idea of an “AI” tech theme and expected interest rate cuts. Now, the Iran war and the oil price shock are the center of focus. The extended sequence of positive returns has paused as the market booked a negative quarter with the S&P falling -4.4%. The adversity and cost of conflict in the Middle East are challenges that have been imposed on society numerous times. Wars produce spikes in energy prices that lead to broad concern about cost and the sp